Rev. & Tax. Code, § 24358 · Article 1. Deductions
Rev. & Tax. Code, § 24358
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) In the case of a corporation, the total deductions under Section 24357 for any taxable year, other than for contributions to which subdivision (b) applies, shall not exceed 10 percent of the taxpayer’s net income computed without regard to any of the following:
(1) Subdivision (e) of Section 23802.
(2) Sections 24357 to 24359, inclusive.
(3) Article 2 (commencing with Section 24401) of Chapter 7 (except Sections 24407 to 24409, inclusive).
(b) (1) Section 170(b)(2)(B) of the Internal Revenue Code, relating to qualified conservation contributions by certain corporate farmers and ranchers, shall apply, except as otherwise provided.
(2) The phrase “made on or after January 1, 2010,” shall be substituted for “made after the date of the enactment of this subparagraph” in Section 170(b)(2)(B)(i)(II) of the Internal Revenue Code.
(3) Section 170(b)(2)(B)(iii) of the Internal Revenue Code, as it read on January 1, 2015, shall apply.
(c) Section 170(b)(2)(C) of the Internal Revenue Code, relating to qualified conservation contributions by certain Native Corporations, shall not apply, except as otherwise provided.
(d) Section 170(d)(2) of the Internal Revenue Code, relating to corporations, shall apply with respect to excess contributions made during taxable years beginning on or after January 1, 1996.
Notes and commentary — not statutory text
History
Amended by Stats. 2025, Ch. 231, Sec. 96. (SB 711) Effective October 1, 2025.
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=24358.
- Text hash
- sha256 24b102ab2fc88f3d7465c79510480caf1488ce27fd3bfdddafa57cb7e1344b50
- 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
- Rev. & Tax. Code, § 23802Printed as Section 23802
- Rev. & Tax. Code, § 24357Printed as Section 24357 | Sections 24357 to 24359, inclusive
- Rev. & Tax. Code, § 24359Printed as Sections 24357 to 24359, inclusive
- Rev. & Tax. Code, div. 2, pt. 11, ch. 7, art. 2Special DeductionsPrinted as Article 2 (commencing with Section 24401) of Chapter 7
- Rev. & Tax. Code, § 24407Printed as Sections 24407 to 24409, inclusive
- Rev. & Tax. Code, § 24409Printed as Sections 24407 to 24409, inclusive
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