{"id":3902,"date":"2022-05-14T15:14:14","date_gmt":"2022-05-14T15:14:14","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=3902"},"modified":"2022-05-20T23:47:07","modified_gmt":"2022-05-20T23:47:07","slug":"revenue-and-taxation-code-rtc-24357","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/revenue-and-taxation-code-rtc-24357\/","title":{"rendered":"Revenue and Taxation Code &#8211; RTC 24357"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l360aqxh-a33e2e3a6f681dd22a205ae5d2098b72\">\n#top .av-special-heading.av-l360aqxh-a33e2e3a6f681dd22a205ae5d2098b72{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l360aqxh-a33e2e3a6f681dd22a205ae5d2098b72 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l360aqxh-a33e2e3a6f681dd22a205ae5d2098b72 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l360aqxh-a33e2e3a6f681dd22a205ae5d2098b72 av-special-heading-h1 blockquote modern-quote  avia-builder-el-0  el_before_av_hr  avia-builder-el-first '><div class='av-subheading av-subheading_above'><p>California<\/p>\n<\/div><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >Revenue and Taxation Code &#8211; RTC \u00a7 24357<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-1  el_after_av_heading  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-av_textblock-e878f05c31dff72941bf1e49a00d9ff5 '  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.avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #searchsubmit{\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchsubmit_wrapper{\nbackground-color:#edae44;\n}\n<\/style>\n<div  class='avia_search_element av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad  avia-builder-el-3  el_after_av_textblock  el_before_av_hr '><search><form action='https:\/\/crowdsourcelawyers.com\/california-statutes\/' id='searchform_element' method='get' class='' data-element_id='av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad' ><div class='av_searchform_wrapper'><input type='search' value='' id='s' name='s' placeholder='Search CA statutes' aria-label='Search CA statutes' class='av-input-field ' required \/><div class='av_searchsubmit_wrapper '><input type='submit' value='Find' id='searchsubmit' class='button ' title='View results on search page' aria-label='View results on search page' \/><\/div><input type='hidden' name='numberposts' value='10' \/><input type='hidden' name='results_hide_fields' value='' \/><\/div><\/form><\/search><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-av_hr-3a876428eececa9d35452247ddb053af\">\n#top .hr.hr-invisible.av-av_hr-3a876428eececa9d35452247ddb053af{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-av_hr-3a876428eececa9d35452247ddb053af hr-invisible  avia-builder-el-4  el_after_avia_sc_search  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-l360cprn-b92c3f827175c2aac3145f23cbfe8e1a '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\">(a)\u2002There shall be allowed as a deduction any charitable contribution (as defined in <span class=\"cite\">Section 24359\u00a0<\/span>) payment of which is made within the taxable year. \u2002A charitable contribution shall be allowable as a deduction only if verified under regulations prescribed by the Franchise Tax Board.<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(b)(1)\u2002In the case of a corporation reporting its income on the accrual basis, the corporation may elect to treat the contribution as paid during that taxable year if both of the following occur:<\/p>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(A)\u2002The board of directors authorizes a charitable contribution during the taxable year.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(B)\u2002Payment of the contribution is made after the close of that taxable year and on or before the 15th day of the third month following the close of the taxable year.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002The election allowed by paragraph (1) may be made only at the time of the filing of the return for the taxable year, and shall be signified in the manner as the Franchise Tax Board shall by regulations prescribe.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002For purposes of this section, payment of a charitable contribution that consists of a future interest in tangible personal property shall be treated as made only when all intervening interests in, and rights to the actual possession or enjoyment of, the property have expired or are held by persons other than the taxpayer or those standing in a relationship to the taxpayer described in\u00a0<span class=\"cite\">Section 24428\u00a0<\/span>. \u2002For purposes of the preceding sentence, a fixture which is intended to be severed from the real property shall be treated as tangible personal property.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002No deduction shall be allowed under this section for traveling expenses (including amounts expended for meals and lodging) while away from home, whether paid directly or by reimbursement, unless there is no significant element of personal pleasure, recreation, or vacation in that travel.<\/p>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(e)(1)\u2002<span class=\"cite\">\u00a0Section 170(f)(8) of the Internal Revenue Code\u00a0<\/span>,\u00a0<span class=\"footnote-reference\">\u20091<\/span>\u00a0relating to substantiation requirement for certain contributions, shall apply, except as otherwise provided.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002No deduction shall be denied under\u00a0<span class=\"cite\">Section 170(f)(8) of the Internal Revenue Code\u00a0<\/span>, relating to substantiation requirement for certain contributions, upon a showing that the requirements in\u00a0<span class=\"cite\">Section 170(f)(8) of the Internal Revenue Code\u00a0<\/span>have been met with respect to that contribution for federal purposes.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(f)\u2002<span class=\"cite\">\u00a0Section 170(f)(9) of the Internal Revenue Code\u00a0<\/span>, relating to\u00a0denial of\u00a0deduction\u00a0<span class=\"added-material\">where contribution<\/span>\u00a0for lobbying activities<span class=\"added-material\">,<\/span>\u00a0shall apply, except as otherwise provided.<\/p>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p>(g)(1)\u2002Notwithstanding any other provision of law to the contrary, for purposes of this section and\u00a0<span class=\"cite\">Section 24341\u00a0<\/span>,\u00a0<span class=\"cite\">Section 170 of the Internal Revenue Code\u00a0<\/span>,\u00a0<span class=\"added-material\">relating to charitable, etc., contributions and gifts<\/span>, shall be applied to allow a taxpayer to elect to treat any contribution described in paragraph (2) made in January 2005, as if that contribution was made on December 31, 2004, and not in January 2005.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\">(2)\u2002A contribution is described in this paragraph if that contribution is a cash contribution made for the relief of victims in areas affected by the December 26, 2004, Indian Ocean tsunami for which a charitable contribution deduction is allowable under this section.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p><span class=\"added-material\">(h)(1)\u2002<span class=\"cite\">\u00a0Section 170(f)(11)(E) of the Internal Revenue Code\u00a0<\/span>, relating to qualified appraisal and appraiser, shall apply, except as otherwise provided.<\/span><\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\"><span class=\"added-material\">(2)\u2002This subdivision shall apply to appraisals prepared with respect to returns or submissions filed on or after January 1, 2010.<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p><span class=\"added-material\">(i)(1)\u2002<span class=\"cite\">\u00a0Section 170(f)(16) of the Internal Revenue Code\u00a0<\/span>, relating to contributions of clothing and household items, shall apply, except as otherwise provided.<\/span><\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\"><span class=\"added-material\">(2)\u2002This subdivision shall apply to contributions made on or after January 1, 2010.<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p><span class=\"added-material\">(j)(1)\u2002<span class=\"cite\">\u00a0Section 170(f)(17) of the Internal Revenue Code\u00a0<\/span>, relating to recordkeeping, shall apply, except as otherwise provided.<\/span><\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\"><span class=\"added-material\">(2)\u2002This subdivision shall apply to contributions made on or after January 1, 2010.<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<div class=\"subsection\">\n<p><span class=\"added-material\">(k)(1)\u2002<span class=\"cite\">\u00a0Section 170(o) of the Internal Revenue Code\u00a0<\/span>, relating to special rules for fractional gifts, shall apply, except as otherwise provided.<\/span><\/p>\n<\/div>\n<div class=\"subsection\">\n<p style=\"padding-left: 40px\"><span class=\"added-material\">(2)\u2002This subdivision shall apply to contributions made on or after January 1, 2010.<\/span><\/p>\n<\/div>\n<\/div>\n<p><br class=\"avia-permanent-lb\" \/><br class=\"avia-permanent-lb\" \/><\/p>\n<\/div>\n<\/div>\n<hr \/>\n<p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":9,"featured_media":0,"parent":2019,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3902","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revenue and Taxation Code - RTC 24357 - California Statutes<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/revenue-and-taxation-code-rtc-24357\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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