California Revenue and Taxation Code 23102 – Any corporation holding or organized to hold stock or bonds of any …
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Any corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State for the purposes of this chapter.
(Amended by Stats. 1951, Ch. 72.)
Terms Used In California Revenue and Taxation Code 23102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.