{"id":6409,"date":"2022-05-24T18:23:29","date_gmt":"2022-05-24T18:23:29","guid":{"rendered":"https:\/\/crowdsourcelawyers.com\/california-statutes\/?page_id=6409"},"modified":"2022-05-24T18:24:12","modified_gmt":"2022-05-24T18:24:12","slug":"revenue-and-taxation-code-rtc-%c2%a7-24345","status":"publish","type":"page","link":"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/revenue-and-taxation-code-rtc-%c2%a7-24345\/","title":{"rendered":"Revenue and Taxation Code &#8211; RTC \u00a7 24345 &#8230;"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-l3khfv1x-a19f756395e5cb0af705203a59448217\">\n#top .av-special-heading.av-l3khfv1x-a19f756395e5cb0af705203a59448217{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-l3khfv1x-a19f756395e5cb0af705203a59448217 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-l3khfv1x-a19f756395e5cb0af705203a59448217 .av-subheading{\nfont-size:22px;\n}\n<\/style>\n<div  class='av-special-heading av-l3khfv1x-a19f756395e5cb0af705203a59448217 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 24345 &#8230;<\/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 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p><a href=\"https:\/\/crowdsourcelawyers.com\/\">CrowdSourceLawyers.com<\/a><\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad\">\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av_searchform_wrapper{\nborder-color:#edae44;\nbackground-color:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad #s.av-input-field{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon{\ncolor:#edae44;\n}\n#top .avia_search_element.av-avia_sc_search-4ee94ae86cde3b232e718bb4ac84e6ad .av-input-field-icon.av-search-icon.avia-svg-icon svg:first-child{\nfill:#edae44;\nstroke:#edae44;\n}\n#top .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-l3khk2qq-156eb1aa33ac5f2139d1a07f7fbaab24 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><div class=\"row\">\n<div class=\"subsection\"><\/div>\n<div class=\"subsection\">\n<p>A deduction shall be allowed for taxes or licenses paid or accrued during the\u00a0<span class=\"added-material\">taxable<\/span>\u00a0year, except:<\/p>\n<div class=\"subsection\">\n<p>(a)\u2002Taxes paid to the state under this part.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(b)\u2002Taxes on or according to or measured by income or profits paid or accrued within the\u00a0<span class=\"added-material\">taxable<\/span>\u00a0year imposed by the authority of any of the following:<\/p>\n<div class=\"subsection\">\n<p>(1)\u2002The Government of the United States or any foreign country.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(2)\u2002Any state, territory, county, school district, municipality, or other taxing subdivision of any state or territory.<\/p>\n<\/div>\n<\/div>\n<div class=\"subsection\">\n<p>(c)\u2002Taxes assessed against local benefits of a kind tending to increase the value of the property assessed, but this does not exclude the allowance as a deduction of so much of the taxes assessed against local benefits as is properly allocable to maintenance or interest charges. \u2002Nor does this exclude the allowance of any irrigation or other water district taxes or assessments which are levied for the payment of the principal of any improvement or other bonds for which a general assessment on all lands within the district is levied as distinguished from a special assessment levied on part of the area within the district.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(d)\u2002Federal stamp taxes (not described in subdivision (b) or (c)); \u2009but this subdivision shall not prevent such taxes from being deducted under\u00a0<span class=\"cite\">Section 24343\u00a0<\/span>(relating to trade or business expenses).<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(e)\u2002State and local general sales or use taxes. \u2002However, there shall be allowed as a deduction, state and local sales or use taxes which are paid or accrued within the\u00a0<span class=\"added-material\">taxable<\/span>\u00a0year in carrying on a trade or business or an activity described in\u00a0<span class=\"cite\">Section 212 of the Internal Revenue Code\u00a0<\/span>(relating to expenses for production of income). Notwithstanding the preceding sentence, any sales or use tax (except where a tax credit is claimed under\u00a0<span class=\"cite\">Section 23612.2\u00a0<\/span>) which is paid or accrued by the taxpayer in connection with an acquisition or disposition of property shall be treated as part of the cost of the acquired property or, in the case of a disposition, as a reduction in the amount realized on the disposition.<\/p>\n<\/div>\n<div class=\"subsection\">\n<p>(f)\u2002For purposes of subdivision (b), \u201ctaxes on or according to or measure by income\u201d shall include any taxes imposed on a dividend that is eliminated from the income of the recipient under\u00a0<span class=\"cite\">Section 25106\u00a0<\/span>.<\/p>\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":7,"featured_media":0,"parent":2019,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6409","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Revenue and Taxation Code - RTC \u00a7 24345 ... - 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-\u00a7-24345\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Revenue and Taxation Code - RTC \u00a7 24345 ... - California Statutes\" \/>\n<meta property=\"og:url\" content=\"https:\/\/crowdsourcelawyers.com\/california-statutes\/california-statutes\/revenue-and-taxation-code-rtc-\u00a7-24345\/\" \/>\n<meta property=\"og:site_name\" content=\"California Statutes\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-24T18:24:12+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/revenue-and-taxation-code-rtc-%c2%a7-24345\\\/\",\"url\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/revenue-and-taxation-code-rtc-%c2%a7-24345\\\/\",\"name\":\"Revenue and Taxation Code - RTC \u00a7 24345 ... - California Statutes\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/#website\"},\"datePublished\":\"2022-05-24T18:23:29+00:00\",\"dateModified\":\"2022-05-24T18:24:12+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/revenue-and-taxation-code-rtc-%c2%a7-24345\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/revenue-and-taxation-code-rtc-%c2%a7-24345\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/revenue-and-taxation-code-rtc-%c2%a7-24345\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"California Statutes\",\"item\":\"https:\\\/\\\/crowdsourcelawyers.com\\\/california-statutes\\\/california-statutes\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Revenue and Taxation Code &#8211; 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