California Revenue and Taxation Code

§ 24402

RTC § 24402 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 7 · Art. 2

Statute text

(a)A portion of the dividends received during the taxable year declared from income which has been included in the measure of the taxes imposed under Chapter 2 (commencing with Section 23101), Chapter 2.5 (commencing with Section 23400), or Chapter 3 (commencing with Section 23501) upon the taxpayer declaring the dividends.

(b)The portion of dividends which may be deducted under this section shall be as follows:

(1)In the case of any dividend described in subdivision (a), received from a “more than 50 percent owned corporation,” 100 percent.

…

Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 154. Effective January 1, 2001.