{"code":"RTC","codeName":"Revenue and Taxation Code","section":"23701x","citation":"Rev. & Tax. Code, § 23701x","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 11. CORPORATION TAX LAW [23001. - 25141.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11"},{"name":"CHAPTER 4. Exempt Corporations [23701. - 23778.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-4"},{"name":"ARTICLE 1. Exemptions From This Part [23701. - 23712.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-4/article-1"}],"history":"Amended by Stats. 2003, Ch. 633, Sec. 8.   Effective September 30, 2003.","effective":"2003-09-30","html":"<p>(a) A corporation or trust described in Section <a href=\"/rtc/501\">501</a>(c)(25) of the Internal Revenue Code, relating to certain title-holding companies.</p><p>(b) (1) Notwithstanding subparagraph (B) of paragraph (2) of subdivision (b) of Section <a href=\"/rtc/23038\">23038</a>, for purposes of applying Section <a href=\"/rtc/501\">501</a>(c)(25) of the Internal Revenue Code under this section, the term “corporation” includes a limited liability company that is classified as a partnership or as a disregarded entity.</p><p>(2) A limited liability company that, under the authority of this section, is exempt from the tax imposed by this part is also exempt from the tax and fees imposed under Chapter 10.6 (commencing with Section <a href=\"/rtc/17941\">17941</a>) of Part 10.</p>","text":"(a) A corporation or trust described in Section 501(c)(25) of the Internal Revenue Code, relating to certain title-holding companies. (b) (1) Notwithstanding subparagraph (B) of paragraph (2) of subdivision (b) of Section 23038, for purposes of applying Section 501(c)(25) of the Internal Revenue Code under this section, the term “corporation” includes a limited liability company that is classified as a partnership or as a disregarded entity. (2) A limited liability company that, under the authority of this section, is exempt from the tax imposed by this part is also exempt from the tax and fees imposed under Chapter 10.6 (commencing with Section 17941) of Part 10.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/exemptions-from-this-part-23701x","source":"California Legislative Information bulk export (pubinfo)"}