Rev. & Tax. Code, § 24352.5 · Article 1. Deductions
Rev. & Tax. Code, § 24352.5
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Under regulations prescribed by the Franchise Tax Board, a taxpayer may, for purposes of computing the allowance under Section 24349 with respect to personal property, reduce the amount taken into account as salvage value by an amount which does not exceed 10 percent of the basis of such property (as determined under Section 24353 as of the time as of which such salvage value is required to be determined).
(b) For purposes of this section, the term “personal property” means depreciable personal property (other than livestock) with a useful life of three years or more.
Notes and commentary — not statutory text
History
Added 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=24352.5.
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- sha256 b7858fd8c111882e0b017eb535759cf4d3ca210d35197bdab1938b8f9329ccb7
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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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Revenue and Taxation Code
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