California Revenue and Taxation Code

§ 24349

RTC § 24349 Effective Oct 7, 2005Div. 2 · Part 11 · Ch. 7 · Art. 1

Statute text

(a)There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence)—

(1)Of property used in the trade or business; or

(2)Of property held for the production of income.

…

Legislative history

Amended by Stats. 2005, Ch. 691, Sec. 60. Effective October 7, 2005.