Rev. & Tax. Code, § 23222 · Article 4. Commencing Corporations
Rev. & Tax. Code, § 23222
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) If a taxpayer commences to do business in this state during its first taxable year its tax for that year shall be adjusted upon the basis of the net income received during that taxable year, at the rate applicable to that year, a credit being allowed for the prepayment of the minimum tax. The return for the first taxable year, which shall be filed within 2 months and 15 days after the close of that year, shall also be the basis for the tax of said taxpayer for its second taxable year, if its first taxable year is a period of 12 months. In every case in which the first taxable year of a taxpayer constitutes a period of less than 12 months, or in which a taxpayer does business for a period of less than 12 months during its first taxable year, said taxpayer shall pay as a prepayment of the tax for its second taxable year a tax based on the income for the first taxable year computed under the law and at the rate applicable to the second taxable year, the same to be due and payable at the same times and in the same manner as if that amount were the entire amount of its tax for that year; and upon the filing of its tax return within 2 months and 15 days after the close of the second taxable year it shall pay a tax for said year, at the rate applicable to that year, based upon its net income received during that year, allowing a credit for the prepayment; but in no event, except as provided in Section 23332, shall the tax for the second taxable year be less than the amount of the prepayment for that year, and said return for its second taxable year shall also be the basis for the tax of said taxpayer for its third taxable year, if the second taxable year constitutes a period of 12 months.
(b) The provisions of subdivision (a) shall be applicable only if a taxpayer commenced doing business in this state before January 1, 1972.
Notes and commentary — not statutory text
History
Amended by Stats. 1971, 1st Ex. Sess., Ch. 1.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=23222.
- Text hash
- sha256 16f27051b910aaef02ffef274ee2a1366aae6fb264cba287ffa6ef24af3091a9
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Revenue and Taxation Code
Cited by 9 provisions
Provisions in this library whose text cites Rev. & Tax. Code, § 23222. Each shows the citation as that text prints it.
Revenue and Taxation Code
- Rev. & Tax. Code, § 23201Printed as Sections 23222 to 23224, inclusive
- Rev. & Tax. Code, § 23202Printed as Sections 23222 to 23224, inclusive
- Rev. & Tax. Code, § 23203Printed as Sections 23222 to 23224, inclusive
- Rev. & Tax. Code, § 23222aPrinted as Section 23222
- Rev. & Tax. Code, § 23223Printed as Section 23222
- Rev. & Tax. Code, § 23224Printed as Section 23222
- Rev. & Tax. Code, § 23225Printed as Sections 23222 to 23224.5, inclusive
- Rev. & Tax. Code, § 23226Printed as Sections 23222 to 23224.5, inclusive
- Rev. & Tax. Code, § 23282Printed as Sections 23222 to 23224, inclusive
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.