{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24875","citation":"Rev. & Tax. Code, § 24875","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 14.5. Regulated Investment Companies, Real Estate Investment Trusts, Real Estate Mortgage Investment Conduits, and Financial Asset Securitization Investment Trusts [24870. - 24876.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-14.5"}],"history":"Amended by Stats. 2011, Ch. 296, Sec. 286.   (AB 1023)   Effective January 1, 2012.","effective":"2012-01-01","html":"<p>(a) A financial asset securitization investment trust (FASIT) shall be subject to the minimum franchise tax imposed under Section <a href=\"/rtc/23153\">23153</a>.</p><p>(b) For purposes of Chapter 4 of Part 10.2 (commencing with Section <a href=\"/rtc/19001\">19001</a>) the taxes imposed by this section shall be treated as taxes to which the deficiency procedures of that article apply.</p>","text":"(a) A financial asset securitization investment trust (FASIT) shall be subject to the minimum franchise tax imposed under Section 23153. (b) For purposes of Chapter 4 of Part 10.2 (commencing with Section 19001) the taxes imposed by this section shall be treated as taxes to which the deficiency procedures of that article apply.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/regulated-investment-companies-real-estate-investment-trusts-24875","source":"California Legislative Information bulk export (pubinfo)"}