CHAPTER 7. Exempt Trusts and Common Trust Funds [17631. - 17677.]
Chapter 7 repealed and added by Stats. 1955, Ch. 939.
§§ 17631–17677 · 11 sections
ARTICLE 1. General Rule §§ 17631–17640 · 8 sections
- § 17631 An organization described in Section 401(a) of the Internal Revenue Code shall be exempt from taxation under this part unless such exemption is denied under…
- § 17632 An organization exempt from taxation under Section 17631 shall be subject to tax to the extent provided in Article 2 (commencing at Section 17651) of this…
- § 17635 (a) An organization described in Section 401(a) of the Internal Revenue Code which is subject to the provisions of this section shall not be exempt from…
- § 17636 Sections 17635 to 17639, inclusive, apply to any organization described in Section 401(a) of the Internal Revenue Code.
- § 17637 For purposes of Sections 17635 to 17639, inclusive, the term “prohibited transaction” means any transaction in which an organization subject to the provisions…
- § 17638 Any organization described in Section 401(a) of the Internal Revenue Code or a trust which is denied exemption under Section 17631 by reason of Section 17635,…
- § 17639 For purposes of subdivision (a) of Section 17637, a bond, debenture, note, or certificate or other evidence of indebtedness (hereinafter in this section…
- § 17640 Subdivision (a) of Section 17637 shall not apply to a loan made by a trust described in Section 401(a) of the Internal Revenue Code to the employer (or to a…
ARTICLE 2. Taxation of Business Income of Certain Exempt Organizations § 17651 · 1 section
- § 17651 (a) There is hereby imposed for each taxable year on the unrelated business taxable income (as defined in Section 23732) of every trust a tax computed as…
ARTICLE 3. Common Trust Funds §§ 17671–17677 · 2 sections