California Revenue and Taxation Code 18037 – An election made by a taxpayer pursuant to Section 1033(g)(3) of the …
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An election made by a taxpayer pursuant to Section 1033(g)(3) of the Internal Revenue Code, relating to the election to treat outdoor advertising displays as real property, may not be denied because the taxpayer has, on his or her federal return, elected to expense the asset.
(Amended by Stats. 2003, Ch. 185, Sec. 17. Effective January 1, 2004.)
Terms Used In California Revenue and Taxation Code 18037
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.