Rev. & Tax. Code, § 24320 · Article 3. Other Exclusions
Rev. & Tax. Code, § 24320
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
Income derived from the operation of aircraft or a ship or ships by a corporation organized under the laws of a foreign country shall not be included in gross income, and shall be exempt from the taxes imposed by this part if:
(a) The aircraft are registered or the ships are documented under the laws of the foreign country;
(b) The income of the corporation is exempt from national income taxes by reason of a treaty or agreement between such foreign country and the United States which provides for an equivalent exemption to corporations organized in the United States; and
(c) Units of government (other than at the national level) within such foreign country do not impose a tax upon corporations organized in the United States with respect to income derived from the operation of aircraft registered or ships documented under the laws of the United States.
Notes and commentary — not statutory text
History
Added by Stats. 1969, Ch. 1191.
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=24320.
- Text hash
- sha256 6428938354a5bac09dbff63ae3128c3a18664b7e6681a0070bfe478533c00c01
- 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
Cited by 1 provision
Provisions in this library whose text cites Rev. & Tax. Code, § 24320. Each shows the citation as that text prints it.
Revenue and Taxation Code
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