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California Statutes, Title RTC

California/Statutes

← All California coverage

Title RTC, California Rev. & Tax. Code

419 chapters · 7,339 sections in this title.

All chapters in Title RTC7,339 Ch 3, New Construction1,035 Ch 1, Base Year Values952 Ch 4, Assessment Appeals937 Ch 5, Taxpayer Reporting782 Ch 2, Change in Ownership and Purchase767 Ch 6, Allocation of Property Tax Revenue731 Ch 7, Responsibility of Assessor649 Ch 8, Tax Delinquent Vessels292 Ch 9, Disposition of Proceeds167 Ch 3.5, Change in Ownership and New Construc…148 Ch 10, Rights of Purchaser of Tax-Deeded Pr…86 Ch 13, Gain or Loss on Disposition of Property61 Ch 15, Gain or Loss on Disposition of Property58

649 sections·Filtered byTitle RTC✕Ch 7✕

Rev. & Tax. Code § 24343.3 Section 24343.3
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Any employer contribution to a medical savings account, as defined in Section 220 of the Internal Revenue Code, relating to medical savings accounts, if otherwise deductible under this part, shall be allowed only for the taxable year in which paid. (Amended by Stats. 2000, Ch. 86…
Rev. & Tax. Code § 24343.5 Section 24343.5
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(a) In addition to the deduction allowed by Section 24343, a deduction shall be allowed to an employer as an ordinary and necessary expense paid or incurred during the taxable year in carrying on any trade or business for those expenses involved in any of the following ridesharin…
Rev. & Tax. Code § 24343.7 Section 24343.7
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Section 162(k)(2)(A)(ii) of the Internal Revenue Code shall not apply. (Amended by Stats. 2002, Ch. 35, Sec. 48. Effective May 8, 2002.)
Rev. & Tax. Code § 24343.8 Section 24343.8
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For taxable years beginning on or after January 1, 2014, a deduction shall not be allowed for the amount of any fine or penalty paid or incurred by an owner of all or part of a professional sports franchise, where that fine or penalty is assessed or imposed by the professional sp…

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Rev. & Tax. Code § 24344 Section 24344

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(a) Section 163 of the Internal Revenue Code, relating to interest, shall apply, except as otherwise provided. (b) If income of the taxpayer which is derived from or attributable to sources within this state is determined pursuant to Section 25101 or 25110, the interest deductibl…

Rev. & Tax. Code § 24344.5 Section 24344.5

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(a) A deduction, determined in accordance with Section 163(e) of the Internal Revenue Code, shall be allowed to the issuer of an original issue discount bond. (b) For taxable years beginning on or after January 1, 1987, and before the taxable year in which the debt obligation mat…

Rev. & Tax. Code § 24344.7 Section 24344.7

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The amendments to Section 163 of the Internal Revenue Code made by Section 13228 of the Revenue Reconciliation Act of 1993 (P.L. 103-66), relating to modification to limitation on deduction for certain interest, shall apply to taxable years beginning on or after January 1, 1996. …

Rev. & Tax. Code § 24345 Section 24345

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A deduction shall be allowed for taxes or licenses paid or accrued during the taxable year, except: (a) Taxes paid to the state under this part. (b) Taxes on or according to or measured by income or profits paid or accrued within the taxable year imposed by the authority of any o…

Rev. & Tax. Code § 24345.5 Section 24345.5

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A deduction shall not be allowed for the fee imposed by subsection (a) of Section 9008 of the Patient Protection and Affordable Care Act (Public Law 111-148). (Added by Stats. 2015, Ch. 359, Sec. 31. (AB 154) Effective September 30, 2015. Applicable to taxable years beginning on …

Rev. & Tax. Code § 24345.6 Section 24345.6

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A deduction shall not be allowed for the excise tax imposed by Section 4501 of the Internal Revenue Code, relating to repurchase of corporate stock. (Added by Stats. 2025, Ch. 231, Sec. 90. (SB 711) Effective October 1, 2025.)

Rev. & Tax. Code § 24345.7 Section 24345.7

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A deduction shall not be allowed for the excise tax imposed by Section 5000D of the Internal Revenue Code, relating to designated drugs during noncompliance periods. (Added by Stats. 2025, Ch. 231, Sec. 91. (SB 711) Effective October 1, 2025.)

Rev. & Tax. Code § 24346 Section 24346

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(a) For purposes of subdivision (a) of Section 24345, if real property is sold during any real property tax year, then— (1) So much of the real property tax as is properly allocable to that part of the year which ends on the day before the date of the sale shall be treated as a t…

Rev. & Tax. Code § 24347 Section 24347

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For taxable years beginning on or after January 1, 1990, all of the following shall apply: (a) Section 165 of the Internal Revenue Code, relating to losses. (b) Section 166 of the Internal Revenue Code, relating to bad debts, except that the deduction of a savings and loan associ…

Rev. & Tax. Code § 24347.10 Section 24347.10

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of San Mateo as a result of the explosion and fire that occurred in September 2010. (b) (1) In the ca…

Rev. & Tax. Code § 24347.11 Section 24347.11

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(a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the County of Santa Cruz as a result of the severe storms that occurred in March 2011. (b) For losses described in subdivision (a), the election under Section 165(i) of the Internal Rev…

Rev. & Tax. Code § 24347.12 Section 24347.12

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(a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the Counties of Los Angeles and San Bernardino as a result of the severe winds that occurred in November 2011. (b) For losses described in subdivision (a), the election under Section 16…

Rev. & Tax. Code § 24347.13 Section 24347.13

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(a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the County of San Diego as a result of the wildfires that occurred in May 2014. (b) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Co…

Rev. & Tax. Code § 24347.14 Section 24347.14

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(a) For taxable years beginning on or after January 1, 2014, and before January 1, 2029, Section 165(i) of the Internal Revenue Code, relating to disaster losses, shall be applicable to any loss sustained as a result of any disaster occurring in any city, county, or city and coun…

Rev. & Tax. Code § 24347.4 Section 24347.4

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(a) Section 165(i) of the Internal Revenue Code, relating to disaster losses, is modified to additionally provide that an appraisal for the purpose of obtaining a loan of federal funds or a loan guarantee from the federal government as a result of a presidentially declared disast…

Rev. & Tax. Code § 24347.5 Section 24347.5

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses resulting from any of the following disasters: (1) Forest fire or any other related casualty occurring in 1985 in California.…

Rev. & Tax. Code § 24347.6 Section 24347.6

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Mendocino as a result of the tsunami that occurred in March 2011. (b) (1) In the case of any loss …

Rev. & Tax. Code § 24347.7 Section 24347.7

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Humboldt as a result of the earthquake that occurred in January 2010. (b) (1) In the case of any l…

Rev. & Tax. Code § 24347.8 Section 24347.8

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Imperial as a result of the earthquake that occurred in April 2010. (b) (1) In the case of any los…

Rev. & Tax. Code § 24347.9 Section 24347.9

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(a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses resulting from any of the following disasters: (1) Any loss sustained in the Counties of Los Angeles and Monterey as a result…

Rev. & Tax. Code § 24348 Section 24348

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(a) There shall be allowed as a deduction either of the following: (1) Debts which become worthless within the taxable year in an amount not in excess of the part charged off within that taxable year. (2) In the case of a bank (as defined in Section 581 of the Internal Revenue Co…

Rev. & Tax. Code § 24349 Section 24349

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(a) There shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including a reasonable allowance for obsolescence)— (1) Of property used in the trade or business; or (2) Of property held for the production of income. (b) Except as …

Rev. & Tax. Code § 24349.1 Section 24349.1

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(a) Section 280F of the Internal Revenue Code, relating to limitations on depreciation for luxury automobiles and certain property used for personal purposes, shall apply, except as otherwise provided. (b) Except as provided in subdivision (c), Section 280F of the Internal Revenu…

Rev. & Tax. Code § 24349.2 Section 24349.2

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Section 280G of the Internal Revenue Code, relating to golden parachute payments, shall apply, except as otherwise provided. (Added by Stats. 2010, Ch. 14, Sec. 67. (SB 401) Effective January 1, 2011.)

Rev. & Tax. Code § 24350 Section 24350

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Paragraphs (2), (3), and (4) of Section 24349(b) shall apply only in the case of property (other than intangible property) described in Section 24349(a) with a useful life of three years or more— (a) The construction, reconstruction, or erection of which is completed after Decemb…

Rev. & Tax. Code § 24351 Section 24351

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Where, under regulations prescribed by the Franchise Tax Board, the taxpayer and the Franchise Tax Board have, after the date of enactment of this section, entered into an agreement in writing specifically dealing with the useful life and rate of depreciation of any property, the…

Rev. & Tax. Code § 24352 Section 24352

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In the absence of an agreement under Section 24351 containing a provision to the contrary, a taxpayer may at any time elect in accordance with regulations prescribed by the Franchise Tax Board to change from the method of depreciation described in Section 24349(b)(2) to the metho…

Rev. & Tax. Code § 24352.5 Section 24352.5

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(a) Under regulations prescribed by the Franchise Tax Board, a taxpayer may, for purposes of computing the allowance under Section 24349 with respect to personal property, reduce the amount taken into account as salvage value by an amount which does not exceed 10 percent of the b…

Rev. & Tax. Code § 24353 Section 24353

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(a) The basis on which exhaustion, wear and tear, and obsolescence are to be allowed in respect of any property shall be the adjusted basis provided in Section 24911 for the purpose of determining the gain on the sale or other disposition of the property. (b) If any property is a…

Rev. & Tax. Code § 24354 Section 24354

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In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust, the allowable deduct…

Rev. & Tax. Code § 24354.1 Section 24354.1

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(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 Sect…

Rev. & Tax. Code § 24355 Section 24355

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Section 167(f) of the Internal Revenue Code, relating to treatment of property excluded from Section 197, shall apply, except as otherwise provided. (Amended by Stats. 1997, Ch. 611, Sec. 83. Effective October 3, 1997.)

Rev. & Tax. Code § 24355.3 Section 24355.3

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For purposes of computing the depreciation deduction pursuant to Section 24349, the useful life of any Alaska natural gas pipeline, as defined in Section 168(i)(16) of the Internal Revenue Code, shall be seven years. (Added by renumbering Section 24355.5 (as renumbered by Stats. …

Rev. & Tax. Code § 24355.4 Section 24355.4

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For purposes of computing the depreciation deduction under Section 24349, a class life of four years shall be used for any qualified rent-to-own property as defined in Section 168(i)(14) of the Internal Revenue Code. (Added by Stats. 1998, Ch. 322, Sec. 80. Effective August 20, 1…

Rev. & Tax. Code § 24355.5 Section 24355.5

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Section 197 of the Internal Revenue Code, relating to amortization of goodwill and certain other intangibles, shall apply. (Amended by Stats. 2026, Ch. 236, Sec. 35. (SB 1435) Effective September 14, 2026. Applicable to taxable years beginning on or after January 1, 2025, provide…

Rev. & Tax. Code § 24356 Section 24356

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(a) (1) In the case of Section 24356 property, the term “reasonable allowance” as used in subdivision (a) of Section 24349, may, at the election of the taxpayer, include an allowance, for the first taxable year for which a deduction is allowable under Sections 24349 through 24354…

Rev. & Tax. Code § 24356.1 Section 24356.1

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(a) The amendments made by Section 124 of the Consolidated Appropriations Act, 2016 (Public Law 114-113) to Section 179 of the Internal Revenue Code, relating to elections to expense certain depreciable business assets, shall not apply. (b) The amendments made by Section 13101 of…

Rev. & Tax. Code § 24357 Section 24357

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(a) There shall be allowed as a deduction any charitable contribution, as defined in Section 24359, the payment of which is made within the taxable year. A charitable contribution shall be allowable as a deduction only if verified under regulations prescribed by the Franchise Tax…

Rev. & Tax. Code § 24357.1 Section 24357.1

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(a) The amount of any charitable contribution of property otherwise taken into account under Section 24357 shall be reduced by the amount of gain that would have been realized if the property contributed had been sold by the taxpayer at its fair market value (determined at the ti…

Rev. & Tax. Code § 24357.10 Section 24357.10

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(a) For purposes of Section 24357, 80 percent of any amount described in subdivision (b) shall be treated as a charitable contribution. (b) For purposes of subdivision (a), an amount is described in this subdivision if each of the following applies: (1) The amount is paid by the …

Rev. & Tax. Code § 24357.2 Section 24357.2

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(a) In the case of a contribution (not made by a transfer in trust) of an interest in property which consists of less than the taxpayer’s entire interest in such property, a deduction shall be allowed under Section 24357 only to the extent that the value of the interest contribut…

Rev. & Tax. Code § 24357.3 Section 24357.3

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For purposes of Section 24357, in determining the value of a remainder interest in real property, depreciation (computed on the straight line method) and depletion of such property shall be taken into account, and such value shall be discounted at a rate of 6 percent per annum, e…

Rev. & Tax. Code § 24357.4 Section 24357.4

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If, in connection with any charitable contribution, a liability is assumed by the recipient or by any other person, or if a charitable contribution is of property which is subject to a liability, then, to the extent necessary to avoid the duplication of amounts, the amount taken …

Rev. & Tax. Code § 24357.5 Section 24357.5

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No deduction shall be allowed under Section 24357 for a contribution to or for the use of an organization or trust described in Section 4948(c)(4) of the Internal Revenue Code. (Amended by Stats. 1984, Ch. 938, Sec. 29. Effective September 7, 1984.)

Rev. & Tax. Code § 24357.6 Section 24357.6

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No deduction shall be allowed under this part for an out-of-pocket expenditure made on behalf of an organization described in Section 24359 (other than an organization described in subdivision (e) of Section 23704.5 (relating to churches, etc.)) if the expenditure is made for the…

Rev. & Tax. Code § 24357.7 Section 24357.7

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(a) (1) For purposes of paragraph (3) of subdivision (b) of Section 24357.2, the term “qualified conservation contribution” means a contribution— (A) Of a qualified real property interest, (B) To a qualified organization, (C) Exclusively for conservation purposes. (2) For purpose…