California Revenue and Taxation Code

§ 25120

RTC § 25120 Effective Feb 20, 2009Div. 2 · Part 11 · Ch. 17 · Art. 2

Statute text

As used in Sections 25120 to 25139, inclusive, which shall hereafter be referred to as “this act,” unless the context otherwise requires:

(a)“Business income” means income arising from transactions and activity in the regular course of the taxpayer’s trade or business and includes income from tangible and intangible property if the acquisition, management, and disposition of the property constitute integral parts of the taxpayer’s regular trade or business operations.

(b)“Commercial domicile” means the principal place from which the trade or business of the taxpayer is directed or managed.

…

Legislative history

Amended by Stats. 2009, 3rd Ex. Sess., Ch. 17, Sec. 10. Effective February 20, 2009.