Is Cal. Rev. & Tax. Code § 24343 — Deductions still in force?

Statute · California Revenue and Taxation Code

Cal. Rev. & Tax. Code § 24343 — Deductions

Cal. Rev. & Tax. Code § 24343

Type: Statute
Source: California Revenue and Taxation Code
Jurisdiction: California
Date: 2019-07-01
Current through: Nov 2, 2026 (California Legislative Counsel)

(a) Section 162 of the Internal Revenue Code, relating to trade or business expenses, shall apply, except as otherwise provided.

Citator

Cal. Rev. & Tax. Code § 24343 — Deductions is in force in the current edition of the Code, and nothing recorded condemns it.

(a) Section 162 of the Internal Revenue Code, relating to trade or business expenses, shall apply, except as otherwise provided.

(b) For purposes of applying Section 162 of the Internal Revenue Code, any references to Section 170 of the Internal Revenue Code shall be modified to refer to Sections 24357 to 24359.1, inclusive, of this part.

(c) (1) The amendments made by Section 13601(a), (b), (c), and (d) of the Tax Cuts and Jobs Act (Public Law 115-97) to Section 162(m) of the Internal Revenue Code, relating to certain excessive employee remuneration, shall apply, except as otherwise provided.

(2) The amendments made by Section 13601(e)(2) of the Tax Cuts and Jobs Act (Public Law 115-97), relating to exception for binding contracts, shall apply, and is modified by substituting “March 31, 2019” for “November 2, 2017.”