California Revenue and Taxation Code 23364a – Where a member of an affiliated group filing a consolidated return is …
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Where a member of an affiliated group filing a consolidated return is a corporation commencing to do business in this state for the first time after August 27, 1937, its tax for the taxable year of commencement shall be the tax for such year as provided for in subdivisions (a) and (b) of Section 23151.1.
(Amended by Stats. 1977, Ch. 552.)
Terms Used In California Revenue and Taxation Code 23364a
- 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.