Cal. RTC § 17063
This is the official text of Cal. RTC § 17063, part of California’s Revenue and Taxation Code — governs state and local taxation, including income and property tax.
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Official statutory text
(a) There shall be allowed as a credit against the net tax (as defined by Section 17039) for any taxable year an amount equal to the minimum tax credit for that taxable year.
(b) For purposes of subdivision (a), the minimum tax credit shall be determined in accordance with Section 53 of the Internal Revenue Code, except as otherwise provided in this part.
(c) For purposes of this chapter, the amount determined under Section 53(c)(1) of the Internal Revenue Code shall be the regular tax as defined by paragraph (2) of subdivision (b) of Section 17062, reduced by the sum of the credits allowable under this part, other than:
(1) The credits described in paragraph (7) of subdivision (a) of Section 17039.
(2) A credit that reduces the tax below the tentative minimum tax, as defined by Section 17062.
(d) Section 53(e) of the Internal Revenue Code, relating to the application to applicable corporations, does not apply.
(b) For purposes of subdivision (a), the minimum tax credit shall be determined in accordance with Section 53 of the Internal Revenue Code, except as otherwise provided in this part.
(c) For purposes of this chapter, the amount determined under Section 53(c)(1) of the Internal Revenue Code shall be the regular tax as defined by paragraph (2) of subdivision (b) of Section 17062, reduced by the sum of the credits allowable under this part, other than:
(1) The credits described in paragraph (7) of subdivision (a) of Section 17039.
(2) A credit that reduces the tax below the tentative minimum tax, as defined by Section 17062.
(d) Section 53(e) of the Internal Revenue Code, relating to the application to applicable corporations, does not apply.
Status: in_force · Read it on the official government site
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