Revenue and Taxation Code § 17260

ARTICLE 6. Deductions

Current as of September 28, 2026Rev. & Tax. Code, § 17260Official source ↗

Amended by Stats. 2026, Ch. 236, Sec. 13. (SB 1435) Effective September 14, 2026. Applicable to taxable years beginning on or after January 1, 2025, provided in Section 46\nof Stats. 2026, Ch. 236.

(a) No deduction, other than depreciation, shall be allowed for expenditures for tertiary injectants as provided by Section 193 of the Internal Revenue Code, relating to tertiary injectants.

(b) Section 263(c) of the Internal Revenue Code, relating to intangible drilling and development costs in the case of oil and gas wells and geothermal wells, shall not apply to intangible drilling and development costs, in the case of oil and gas wells, paid or incurred on or after January 1, 2024.