California Revenue and Taxation Code

§ 24721

RTC § 24721 Effective Oct 1, 2025Div. 2 · Part 11 · Ch. 13 · Art. 6

Statute text

(a)Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.

(b)Section 481(d) of the Internal Revenue Code, relating to adjustments attributable to conversion from “S” corporation to “C” corporation, shall not apply.

Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 115. (SB 711) Effective October 1, 2025.