ARTICLE 3. Items Not Deductible [24421. - 24449.]
Article 3 added by Stats. 1955, Ch. 938.
§§ 24421–24449 · 25 sections
- § 24421 In computing “net income” of taxpayers under this part, no deduction shall be allowed for the items specified in this article.
- § 24422 No deduction shall be allowed for both of the following: (a) Any amount paid out for new buildings or for permanent improvements or betterments made to…
- § 24422.3 (a) Section 263A of the Internal Revenue Code, relating to capitalization and inclusion in inventory costs of certain expenses, shall apply, except as…
- § 24424 Section 264 of the Internal Revenue Code, relating to certain amounts paid in connection with insurance contracts, shall apply, except as otherwise provided.
- § 24425 (a) No deduction shall be allowed for any amount otherwise allowable as a deduction which is allocable to one or more classes of income not included in the…
- § 24426 Amounts paid or accrued for such taxes and carrying charges as, under regulations prescribed by the Franchise Tax Board, are chargeable to capital account with…
- § 24427 Section 267 of the Internal Revenue Code, relating to losses, expenses, and interest with respect to transactions between related taxpayers, shall apply,…
- § 24428 Section 267A of the Internal Revenue Code, relating to certain related party amounts paid or accrued in hybrid transactions or with hybrid entities, shall…
- § 24429 Section 276 of the Internal Revenue Code, relating to certain indirect contributions to political parties, shall apply, except as otherwise provided.
- § 24430 The amendments made by Section 13304 of the Tax Cuts and Jobs Act, 2017 (Public Law 115-97) to Section 274 of the Internal Revenue Code, relating to limitation…
- § 24431 (a) If— (1) Any person or persons acquire, or acquired on or after October 8, 1940, directly or indirectly, control of a corporation; or (2) Any corporation…
- § 24434 (a) In the case of a taxpayer (other than a bank as defined in Section 23039) no deduction shall be allowed under Section 24347 or 24348 by reason of the…
- § 24436.1 (a) In computing net income, deductions, including deductions for cost of goods sold, shall not be allowed to any taxpayer from any of its gross income…
- § 24436.5 (a) No deduction shall be allowed for interest, depreciation, taxes, or amortization paid or incurred in the taxable year under Section 24343, 24344, 24345, or…
- § 24437 Section 277 of the Internal Revenue Code, relating to deductions incurred by certain membership organizations in transactions with members, shall apply, except…
- § 24438 (a) No deduction shall be allowed for any interest paid or incurred by a taxpayer during the taxable year with respect to its corporate acquisition…
- § 24439 (a) No deduction shall be allowed to the issuing corporation for any premium paid or incurred upon the repurchase of a bond, debenture, note, or certificate or…
- § 24440 (a) Section 280C(b) of the Internal Revenue Code, relating to credit for qualified clinical testing expenses for certain drugs, shall apply, except as…
- § 24441 In computing net income no deduction shall be allowed for (a) abandonment fees paid in respect of property on which the open-space easement is terminated under…
- § 24442 In the case of the demolition of any structure— (1) No deduction otherwise allowable under this part shall be allowed to the owner or lessee of such structure…
- § 24442.5 Section 280H of the Internal Revenue Code, relating to limitation on certain amounts paid to employee-owners by personal service corporations electing…
- § 24443 Section 274 of the Internal Revenue Code, relating to the disallowance of certain entertainment, gift, travel, etc., expenses, shall apply, except as otherwise…
- § 24447 The Franchise Tax Board may disallow a deduction under this part to an individual or entity for amounts paid as remuneration for personal services if that…
- § 24448 (a) Notwithstanding any other provisions in this part, in the case of a taxpayer who owns real property and has either failed to provide the information…
- § 24449 (a) Section 291 of the Internal Revenue Code, relating to special rules relating to corporate preference items, shall apply, except as otherwise provided. (b)…