Statute · California Revenue and Taxation Code
Cal. Rev. & Tax. Code § 24352.5 — Deductions
Cal. Rev. & Tax. Code § 24352.5
- Type
- Statute
- Source
- California Revenue and Taxation Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) Under regulations prescribed by the Franchise Tax Board, a taxpayer may, for purposes of computing the allowance under Section 24349 with respect to personal property, reduce the amount taken into account as salvage value by an amount which does not exceed 10 percent of the basis of such…
Citator
Cal. Rev. & Tax. Code § 24352.5 — Deductions is in force in the current edition of the Code, and nothing recorded condemns it.
(a) Under regulations prescribed by the Franchise Tax Board, a taxpayer may, for purposes of computing the allowance under Section 24349 with respect to personal property, reduce the amount taken into account as salvage value by an amount which does not exceed 10 percent of the basis of such property (as determined under Section 24353 as of the time as of which such salvage value is required to be determined).
(b) For purposes of this section, the term “personal property” means depreciable personal property (other than livestock) with a useful life of three years or more.