California Revenue and Taxation Code

§ 24685

RTC § 24685 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 13 · Art. 4

Statute text

(a)In the case of any taxpayer who elected to have former Section 24685 apply for that taxpayer’s last taxable year beginning prior to January 1, 1990, and who is required to change its method of accounting by reason of the amendments made by the act adding this section, each of the following shall apply:

(1)The change shall be treated as initiated by the taxpayer.

(2)The change shall be treated as having been made with the consent of the Franchise Tax Board.

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 190. Effective January 1, 2001.