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2025 California Code
Revenue and Taxation Code - RTC
DIVISION 2 - OTHER TAXES
PART 11 - CORPORATION TAX LAW
CHAPTER 13 - Accounting Periods and Methods of Accounting
ARTICLE 6 - Adjustments Required by Changes in Method
Section 24721.
Universal Citation:
CA Rev & Tax Code § 24721 (2025)
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24721. (a) Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.
(b) Section 481(d) of the Internal Revenue Code, relating to adjustments attributable to conversion from “S” corporation to “C” corporation, shall not apply.
(Amended by Stats. 2025, Ch. 231, Sec. 115. (SB 711) Effective October 1, 2025.)
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