Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 17088 — Items Specifically Included in Gross Income
Cal. Rev. & Tax. Code § 17088
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Date
- 2015-09-30
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Subchapter M of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to regulated investment companies and real estate investment trusts, shall apply, except as otherwise provided.
Citator
Cal. Rev. & Tax. Code § 17088 — Items Specifically Included in Gross Income is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Subchapter M of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to regulated investment companies and real estate investment trusts, shall apply, except as otherwise provided.
(b) Section 17145 shall apply in lieu of Section 852(b)(5) of the Internal Revenue Code, relating to exempt-interest dividends.
(c) (1) Section 852(b)(3)(D) of the Internal Revenue Code, relating to treatment by shareholders of undistributed capital gains, shall not apply.
(2) Section 852(g)(1)(A) of the Internal Revenue Code is modified by substituting the phrase “subdivision (a) of Section 17145” for the phrase “the first sentence of subsection (b)(5)” contained therein.