DIVISION 2. OTHER TAXES 6001-61050›PART 10. PERSONAL INCOME TAX 17001-18181›CHAPTER 3. Computation of Taxable Income 17071-17307›ARTICLE 2. Items Specifically Included in Gross Income 17081-17091
§ 17088
California Revenue and Taxation Code · 2026-09 edition · updated 2026-10-03 · California
(a) Subchapter M of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to regulated investment companies and real estate investment trusts, shall apply, except as otherwise provided.
(b) Section 17145 shall apply in lieu of Section 852(b)(5) of the Internal Revenue Code, relating to exempt-interest dividends.
(c) (1) Section 852(b)(3)(D) of the Internal Revenue Code, relating to treatment by shareholders of undistributed capital gains, shall not apply.
(2) Section 852(g)(1)(A) of the Internal Revenue Code is modified by substituting the phrase “subdivision (a) of Section 17145” for the phrase “the first sentence of subsection (b)(5)” contained therein.
(Amended by Stats. 2015, Ch. 359, Sec. 5. (AB 154) Effective September 30, 2015. Applicable to taxable years beginning on or after January 1, 2015, as provided in Sec. 41 of Stats. 2015, Ch. 359.)
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