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2011 California Code
Revenue and Taxation Code
DIVISION 2. OTHER TAXES [6001 - 60708]
CHAPTER 14.5. Regulated Investment Companies, Real Estate Investment Trusts, Real Estate Mortgage Investment Conduits, and Financial Asset Securitization Investment Trusts
Section 24875


CA Rev & Tax Code § 24875 (through 2012 Leg Sess) What's This?

(a) A financial asset securitization investment trust (FASIT) shall be subject to the minimum franchise tax imposed under Section 23153.

(b) For purposes of Chapter 4 of Part 10.2 (commencing with Section 19001) the taxes imposed by this section shall be treated as taxes to which the deficiency procedures of that article apply.

(Amended by Stats. 2011, Ch. 296, Sec. 286. Effective January 1, 2012.)

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