Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 23737 — Taxation of Business Income of Certain Article 1 Organizations
Cal. Rev. & Tax. Code § 23737
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Date
- 2001-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
In the case of any organization described in Section 23701d to which this article is applicable, exemption under Article 1 (commencing with Section 23701) shall be denied for the taxable year if the amounts accumulated out of income during the taxable year or any prior taxable year and not…
Citator
Cal. Rev. & Tax. Code § 23737 — Taxation of Business Income of Certain Article 1 Organizations is in force in the current edition of the Code, and nothing recorded condemns it.
In the case of any organization described in Section 23701d to which this article is applicable, exemption under Article 1 (commencing with Section 23701) shall be denied for the taxable year if the amounts accumulated out of income during the taxable year or any prior taxable year and not actually paid out by the end of the taxable year—
(a) Are unreasonable in amount or duration in order to carry out the charitable, educational, or other purpose or function constituting the basis for such organization’s exemption under Section 23701d; or
(b) Are used to a substantial degree for purposes or functions other than those constituting the basis for such organization’s exemption under Section 23701d, or
(c) Are invested in such a manner as to jeopardize the carrying out of the charitable, educational, or other purpose or function constituting the basis for such organization’s exemption under Section 23701d.