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 7. Net Income [24341 - 24449]
( Chapter 7 added by Stats. 1955, Ch. 938. ) ARTICLE 2. Special Deductions [24401 - 24416.24]
( Article 2 added by Stats. 1955, Ch. 938. ) 24408.
The term “organizational expenditures” means any expenditure that meets all of the following requirements:
(a) Is incident to the creation of the corporation.
(b) Is chargeable to capital account.
(c) Is of a character which, if expended incident to the creation of a corporation having a limited life, would be amortizable over that life.
(Amended by Stats. 1997, Ch. 605, Sec. 92. Effective January 1, 1998.)