Rev. & Tax. Code, § 23701h · Article 1. Exemptions From This Part
Rev. & Tax. Code, § 23701h
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) A corporation described in Section 501(c)(2) of the Internal Revenue Code, relating to certain title-holding companies.
(b) (1) Notwithstanding subparagraph (B) of paragraph (2) of subdivision (b) of Section 23038, for purposes of applying Section 501(c)(2) of the Internal Revenue Code under this section, the term “corporation” includes a limited liability company that is classified as a partnership or as a disregarded entity.
(2) A limited liability company that, under the authority of this section, is exempt from the tax imposed by this part is also exempt from the tax and fees imposed under Chapter 10.6 (commencing with Section 17941) of Part 10.
Notes and commentary — not statutory text
History
Amended by Stats. 2003, Ch. 633, Sec. 7. Effective September 30, 2003.
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=23701h.
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- sha256 31da8600305dc77104e64d20c598797882c3eefcfa974a32b8482881dbed61ef
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- 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
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