2012 California Codes
RTC - Revenue and Taxation Code
DIVISION 2 - OTHER TAXES [6001 - 60709]
PART 11 - CORPORATION TAX LAW
CHAPTER 4 - Exempt Corporations
ARTICLE 1 - Exemptions From This Part
Section 23701h
(a) A corporation described in Section 501(c)(2) of the Internal Revenue Code, relating to certain title-holding companies.
(b) (1) Notwithstanding subparagraph (B) of paragraph (2) of subdivision (b) of Section 23038, for purposes of applying Section 501(c)(2) of the Internal Revenue Code under this section, the term “corporation” includes a limited liability company that is classified as a partnership or as a disregarded entity.
(2) A limited liability company that, under the authority of this section, is exempt from the tax imposed by this part is also exempt from the tax and fees imposed under Chapter 10.6 (commencing with Section 17941) of Part 10.
(Amended by Stats. 2003, Ch. 633, Sec. 7. Effective September 30, 2003.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
