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SB-229 Income Taxes: corporate.(2011-2012)

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CALIFORNIA LEGISLATURE— 2011–2012 REGULAR SESSION

Senate Bill
No. 229

Introduced  by  Senator Wyland

February 09, 2011

An act to amend Section 23040 of the Revenue and Taxation Code, relating to taxation.


LEGISLATIVE COUNSEL'S DIGEST


SB 229, as introduced, Wyland. Income Taxes: corporate.
The Corporation Tax Law provides that income derived from or attributable to sources within this state includes income from specified types of property.
This bill would make technical, nonsubstantive changes to that provision.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 23040 of the Revenue and Taxation Code is amended to read:

23040.
 Income derived from or attributable to sources within this Statestate includes income from tangible or intangible property located or having a situs in this Statestate and income from any activities carried on in this Statestate, regardless of whether carried on in intrastate, interstate, or foreign commerce.