California Revenue and Taxation Code

§ 24354.1

RTC § 24354.1 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 7 · Art. 1

Statute text

(a)Except as provided in subdivisions (b) and (c) of this section, in the case of property of the type defined in Section 1250(c) of the Internal Revenue Code, subdivision (b) of Section 24349 shall not apply and the term “reasonable allowance” as used in subdivision (a) of Section 24349 shall include an allowance computed in accordance with regulations prescribed by the Franchise Tax Board, under any of the following methods:

(1)The straight line method,

(2)The declining balance method, using a rate not exceeding 150 percent of the rate which would have been used had the annual allowance been computed under the method described in paragraph (1), or

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 135. Effective January 1, 2001.