Is Cal. Rev. & Tax. Code § 24360 — Deductions still in force?

Statute · California Revenue and Taxation Code

Cal. Rev. & Tax. Code § 24360 — Deductions

Cal. Rev. & Tax. Code § 24360

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 bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond):

Citator

Cal. Rev. & Tax. Code § 24360 — Deductions is in force in the current edition of the Code, and nothing recorded condemns it.

In the case of any bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond):

(a) In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction.

(b) In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section 23501), no deduction shall be allowed for the amortizable bond premium for the taxable year.