Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 23736.3 — Taxation of Business Income of Certain Article 1 Organizations
Cal. Rev. & Tax. Code § 23736.3
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Date
- 2001-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
An organization described in Section 23701n or Section 23701d, except as specified in Section 23736, shall be denied exemption under Section 23736.2 only for taxable years subsequent to the taxable years during which it is notified by the Franchise Tax Board that it has engaged in a prohibited…
Citator
Cal. Rev. & Tax. Code § 23736.3 — Taxation of Business Income of Certain Article 1 Organizations is in force in the current edition of the Code, and nothing recorded condemns it.
An organization described in Section 23701n or Section 23701d, except as specified in Section 23736, shall be denied exemption under Section 23736.2 only for taxable years subsequent to the taxable years during which it is notified by the Franchise Tax Board that it has engaged in a prohibited transaction, unless such organization entered into such prohibited transaction with the purpose of diverting corpus or income of the organization from its exempt purposes, and such transaction involved a substantial part of the corpus or income of such organization.