Rev. & Tax. Code, § 24416.23 · Article 2. Special Deductions
Rev. & Tax. Code, § 24416.23
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(a) Notwithstanding Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22, former Sections 24416.2, 24416.5, 24416.6, and 24416.20, and Section 172 of the Internal Revenue Code, a net operating loss deduction shall not be allowed for any taxable year beginning on or after January 1, 2020, and before January 1, 2022.
(b) For any net operating loss or carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as follows:
(1) By one year, for losses incurred in taxable years beginning on or after January 1, 2021, and before January 1, 2022.
(2) By two years, for losses incurred in taxable years beginning on or after January 1, 2020, and before January 1, 2021.
(3) By three years, for losses incurred in taxable years beginning before January 1, 2020.
(c) The disallowance of any net operating loss deduction for any taxable year beginning on or after January 1, 2020, and before January 1, 2022, pursuant to subdivision (a) shall not apply to a taxpayer with income subject to tax under this part of less than one million dollars ($1,000,000) for the taxable year.
(d) The amendments made to this section by the act adding this subdivision shall be operative for taxable years beginning on or after January 1, 2022.
Notes and commentary — not statutory text
History
Amended by Stats. 2022, Ch. 3, Sec. 21. (SB 113) Effective February 9, 2022.
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=24416.23.
- Text hash
- sha256 4b9d9bc760f7c025f6e50a054ffcd15104c298d94357ba4d4d849729e6653e06
- 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, § 24416Printed as Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22
- Rev. & Tax. Code, § 24416.1Printed as Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22
- Rev. & Tax. Code, § 24416.4Printed as Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22
- Rev. & Tax. Code, § 24416.7Printed as Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22
- Rev. & Tax. Code, § 24416.22Printed as Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22
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