California Revenue And Taxation Code — Other Taxes — The Corporation Franchise Tax — Reorganized Corporations — Applicability of IRC Section 381(b)

Current through the 2016 Legislative Session

Section 381(b) of the Internal Revenue Code, relating to operating rules, shall apply in determining the close of the taxable year. If a short period year is required by use of Section 381(b) of the Internal Revenue Code, the transferor's short year tax shall be computed using the provisions of Section 23151.1 for general corporations or Section 23181 for banks and financial corporations.