{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24721","citation":"Rev. & Tax. Code, § 24721","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 13. Accounting Periods and Methods of Accounting [24631. - 24726.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-13"},{"name":"ARTICLE 6. Adjustments Required by Changes in Method [24721. - 24726.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-13/article-6"}],"history":"Amended by Stats. 2025, Ch. 231, Sec. 115.   (SB 711)   Effective October 1, 2025.","effective":"2025-10-01","html":"<p>(a) Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.</p><p>(b) Section <a href=\"/rtc/481\">481</a>(d) of the Internal Revenue Code, relating to adjustments attributable to conversion from “S” corporation to “C” corporation, shall not apply.</p>","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.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/adjustments-required-by-changes-in-method-24721","source":"California Legislative Information bulk export (pubinfo)"}