Revenue and Taxation Code - RTC
DIVISION 2. OTHER TAXES [6001 - 61050]
( Heading of Division 2 amended by Stats. 1968, Ch. 279. ) PART 11. CORPORATION TAX LAW [23001 - 25141]
( Heading of Part 11 amended by Stats. 2001, Ch. 543, Sec. 21. ) CHAPTER 6. Gross Income [24271 - 24329]
( Chapter 6 added by Stats. 1955, Ch. 938. ) ARTICLE 2. Exclusions [24301 - 24315]
( Article 2 added by Stats. 1955, Ch. 938. ) 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 taxpayer pursuant to the California Microbusiness COVID-19 Relief Program that is administered by the Office of Small Business Advocate pursuant to Article 9 (commencing with Section 12100.90) of Chapter 1.6 of Part 2 of Division 3 of Title 2 of the Government Code.
(b) Section 41 shall not apply to the exclusion allowed by this section.
(Amended by Stats. 2023, Ch. 196, Sec. 23. (SB 143) Effective September 13, 2023.)