California Revenue and Taxation Code 23363 – The Franchise Tax Board shall prescribe such regulations as it may …
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The Franchise Tax Board shall prescribe such regulations as it may deem necessary in order that the tax liability of any affiliated group of corporations making a consolidated return and of each corporation in the group, both during and after the period of affiliation, may be determined, computed, assessed, collected, and adjusted in such manner as to reflect the proper income.
(Amended by Stats. 1951, Ch. 374.)
Terms Used In California Revenue and Taxation Code 23363
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- 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.