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California Code, Revenue and Taxation Code - RTC § 24343

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

(a) Section 162 of the Internal Revenue Code,  1 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)  2 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.”

1 26 U.S.C.A. § 162.
2 For public law sections classified to the U.S.C.A., see USCA-Tables.
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Cite this article: FindLaw.com - California Code, Revenue and Taxation Code - RTC § 24343 - last updated January 01, 2025 | https://codes.findlaw.com/ca/revenue-and-taxation-code/rtc-sect-24343/

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