California Revenue and Taxation Code 24321 – Notwithstanding any statute, ordinance, regulation, rule or decision …
Current as of: 2024 | Check for updates
|
Other versions
Notwithstanding any statute, ordinance, regulation, rule or decision to the contrary, no city, county, city and county, governmental subdivision, district, public and quasi-public corporation, municipal corporation, whether incorporated or not or whether chartered or not, shall levy or collect or cause to be levied or collected any tax upon income which is excludable from gross income and exempt from state taxes pursuant to Section 24320.
This section shall not be construed to authorize any such entity to levy a tax on, according to, or measured by, income or profits paid or accrued.
Terms Used In California Revenue and Taxation Code 24321
- City: includes incorporated city, city and county, municipal corporation, municipality, town, and incorporated town. See California Revenue and Taxation Code 14
- 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.
- County: includes city and county. See California Revenue and Taxation Code 15
- Statute: A law passed by a legislature.
(Added by Stats. 1969, Ch. 1191.)