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California Code, Revenue and Taxation Code - RTC § 17088

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Subchapter M of Chapter 1 of Subtitle A of the Internal Revenue Code,  1 relating to regulated investment companies and real estate investment trusts, shall apply, except as otherwise provided.

(b) Section 17145 shall apply in lieu of Section 852(b)(5) of the Internal Revenue Code, relating to exempt-interest dividends.

(c)(1) Section 852(b)(3)(D) of the Internal Revenue Code, relating to treatment by shareholders of undistributed capital gains, shall not apply.

(2) Section 852(g)(1)(A) of the Internal Revenue Code is modified by substituting the phrase “subdivision (a) of Section 17145” for the phrase “the first sentence of subsection (b)(5)” contained therein.

1 Internal Revenue Code sections are in Title 26 of the U.S.C.A.
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Cite this article: FindLaw.com - California Code, Revenue and Taxation Code - RTC § 17088 - last updated January 01, 2025 | https://codes.findlaw.com/ca/revenue-and-taxation-code/rtc-sect-17088/

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