{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24360","citation":"Rev. & Tax. Code, § 24360","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 7. Net Income [24341. - 24449.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-7"},{"name":"ARTICLE 1. Deductions [24341. - 24383.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-7/article-1"}],"history":"Amended by Stats. 2000, Ch. 862, Sec. 147.   Effective January 1, 2001.","effective":"2001-01-01","html":"<p>In the case of any bond, as defined in Section <a href=\"/rtc/24363\">24363</a>, the following rules shall apply to the amortizable bond premium (determined under Section <a href=\"/rtc/24361\">24361</a> on the bond):</p><p>(a) In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction.</p><p>(b) In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section <a href=\"/rtc/23501\">23501</a>), no deduction shall be allowed for the amortizable bond premium for the taxable year.</p>","text":"In the case of any bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond): (a) In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction. (b) In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section 23501), no deduction shall be allowed for the amortizable bond premium for the taxable year.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/deductions-24360","source":"California Legislative Information bulk export (pubinfo)"}