BlackletterCalifornia law

CHAPTER 6. Gross Income [24271. - 24329.]

Chapter 6 added by Stats. 1955, Ch. 938.

§§ 24271–24329 · 48 sections

  1. ARTICLE 1. Definitions §§ 24271–24276 · 8 sections
    • § 24271 (a) Section 61 of the Internal Revenue Code, relating to gross income defined, shall apply, except as otherwise provided. (b) A distributive share of…
    • § 24272 For the purposes of the tax imposed under Chapter 2 (commencing with Section 23101), “gross income” includes all interest received from federal, state,…
    • § 24272.2 The provisions of Section 72(u) of the Internal Revenue Code, relating to the treatment of annuity contracts not held by natural persons, shall be applicable.
    • § 24272.5 (a) Section 7518 of the Internal Revenue Code, relating to tax incentives relating to merchant marine capital construction funds, shall apply, except as…
    • § 24273 (a) Amounts received as loans from the Commodity Credit Corporation shall, at the election of the taxpayer, be considered as income and shall be included in…
    • § 24273.5 (a) Noncash patronage allocations from farmers’ cooperative and mutual associations (whether paid in capital stock, revolving fund certificates, retain…
    • § 24275 In the case of any taxpayer who is required to include the amount of any nuclear decommissioning costs in the taxpayer’s cost of service for ratemaking…
    • § 24276 Section 90 of the Internal Revenue Code, relating to illegal federal irrigation subsidies, shall apply to water delivered to the taxpayer on or after January…
  2. ARTICLE 2. Exclusions §§ 24301–24315 · 31 sections
    • § 24301 In computing the tax imposed under this part, “gross income” does not include any of the items specified in this article.
    • § 24302 Amounts received other than amounts paid by reason of the death of the insured under life insurance, endowment or annuity contracts, either during the term or…
    • § 24303 Any grant made in any taxable year by the Secretary of the Treasury under Section 1603 of the American Recovery and Reinvestment Tax Act of 2009 (Public Law…
    • § 24305 (a) Except as provided in subdivisions (b) and (c), amounts received under life insurance policies and contracts paid by reason of the death of the insured but…
    • § 24306 (a) For purposes of this section, the following terms have the following meanings, as provided in the Golden State Scholarshare Trust Act (Article 19…
    • § 24307 (a) Section 108 of the Internal Revenue Code, relating to income from discharge of indebtedness, shall apply, except as otherwise provided. (b) Section…
    • § 24308 Section 1078 of Public Law 98-369 (Tax Reform Act of 1984), relating to exclusions from gross income of payments from the United States Forest Service as a…
    • § 24308.1 Gross income does not include any amount received as a rebate, voucher, or other financial incentive issued by the California Energy Commission, the Public…
    • § 24308.2 (a) For taxable years beginning on or after January 1, 2020, gross income does not include any amount awarded as a restaurant revitalization grant pursuant to…
    • § 24308.3 (a) For taxable years beginning on or after January 1, 2019, gross income does not include any amount awarded as a shuttered venue operator grant pursuant to…
    • § 24308.4 (a) For taxable years beginning on or after January 1, 2021, and before January 1, 2026, gross income does not include a bill credit or credits received by a…
    • § 24308.5 (a) For taxable years beginning on or after January 1, 2021, and before January 1, 2026, gross income does not include a bill credit or credits received by a…
    • § 24308.6 (a) For taxable years beginning on or after January 1, 2019, gross income does not include any covered loan amount forgiven pursuant to Section 1106 of the…
    • § 24308.7 (a) For each taxable year beginning on or after July 1, 2015, gross income does not include an amount received as a loan forgiveness, grant, credit, rebate,…
    • § 24308.8 (a) Gross income does not include any qualified amount received by a qualified taxpayer. (b) For purposes of this section: (1) The term “qualified amount”…
    • § 24308.9 (a) For taxable years beginning on or after January 1, 2022, and before January 1, 2027, gross income does not include any amount received as a rebate,…
    • § 24308.10 (a) For taxable years beginning on or after January 1, 2024, and before January 1, 2029, gross income shall not include any amount received by a qualified…
    • § 24309 Gross income does not include income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such…
    • § 24309.1 (a) For taxable years beginning before January 1, 2027, gross income does not include any qualified amount received by a qualified taxpayer. (b) For purposes…
    • § 24309.2 (a) For taxable years beginning on or after January 1, 2021, and before January 1, 2030, gross income shall not include any qualified amount received by a…
    • § 24309.3 (a) Gross income does not include any qualified amount received by a qualified taxpayer. (b) For purposes of this section: (1) “Qualified amount” means any…
    • § 24309.5 Section 110 of the Internal Revenue Code, relating to qualified lessee construction allowances for short-term leases, shall apply, except as otherwise…
    • § 24309.6 (a) For taxable years beginning on or after January 1, 2020, and before January 1, 2028, gross income does not include any qualified amount received by a…
    • § 24309.7 (a) For taxable years beginning on or after January 1, 2020, and before January 1, 2028, gross income does not include any qualified amount received by a…
    • § 24309.9 (a) For taxable years beginning on or after January 1, 2024, and before January 1, 2029, gross income does not include any Chiquita Canyon elevated temperature…
    • § 24310 (a) Section 111 of the Internal Revenue Code, relating to recovery of tax benefit items, shall apply, except as otherwise provided. (b) Sections 111(b) and…
    • § 24310.5 (a) For taxable years beginning on or after January 1, 2026, and before January 1, 2031, gross income does not include any payment made pursuant to Section…
    • § 24311 (a) For taxable years beginning on or after September 1, 2020, and before January 1, 2025, gross income does not include grant allocations received by a…
    • § 24312 (a) Gross income does not include any of the following grant allocations: (1) For taxable years beginning on or after January 1, 2020, and before January 1,…
    • § 24314 The following phrase (or its substantial equivalent) in other codes or statutes does not exempt the gain or loss from the sale or transfer of bonds from the…
    • § 24315 Gross income does not include any amount received for empty beverage containers by a consumer from a recycling center or recycling location as the recycling…
  3. ARTICLE 3. Other Exclusions §§ 24320–24329 · 9 sections
    • § 24320 Income derived from the operation of aircraft or a ship or ships by a corporation organized under the laws of a foreign country shall not be included in gross…
    • § 24321 Notwithstanding any statute, ordinance, regulation, rule or decision to the contrary, no city, county, city and county, governmental subdivision, district,…
    • § 24322 (a) Gross income of a domestic building and loan association, as defined in Section 7701(a)(19) of the Internal Revenue Code, does not include any amount of…
    • § 24323 Any amount received as a rebate from a local water agency or supplier for any expenses the taxpayer paid or incurred for the purchase or installation of each…
    • § 24324 (a) Gross income does not include any contribution to the capital of the taxpayer. (b) (1) For purposes of this section, “contribution to the capital of the…
    • § 24325 Section 118 of the Internal Revenue Code, relating to contributions to the capital of a corporation, shall apply to contributions made on or after January 1,…
    • § 24326 (a) Section 136 of the Internal Revenue Code, relating to energy conservation subsidies provided by public utilities, shall apply, except as otherwise…
    • § 24327 Section 892 of the Internal Revenue Code, relating to the tax treatment of foreign governments and international organizations, shall apply.
    • § 24329 Section 139 of the Internal Revenue Code, relating to disaster relief payments, shall apply, except as otherwise provided.