California Revenue and Taxation Code

§ 23803

RTC § 23803 Effective Jan 1, 2004Div. 2 · Part 11 · Ch. 4.5

Statute text

(a)With respect to credits that are otherwise allowed to reduce the taxes imposed under this part:

(1)The amount of any credit to be claimed shall be limited to one-third of the amount otherwise allowable.

(2)(A) Any unused portion of the credit allowable under paragraph (1) (one-third of the total credit) shall be allowed to be carried forward and may not be subject to additional reductions under paragraph (1) in later years.

…

Legislative history

Amended by Stats. 2003, Ch. 268, Sec. 9. Effective January 1, 2004.