(a) Part VI of Subchapter A of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to alternative minimum tax, shall apply, except as otherwise provided.

(b) A corporation electing under Chapter 4.5 (commencing with Section 23800) to be treated as an “S corporation” shall not be subject to the tax imposed by this chapter.

Terms Used In California Revenue and Taxation Code 23400

  • 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.

(Amended by Stats. 1993, Ch. 873, Sec. 33. Effective October 6, 1993.)

  Previous section
Next section  
 Chapter 2.5 Contents