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Earlier editions: 2020-112018-112026-09

DIVISION 2. OTHER TAXES 6001-61050›PART 10. PERSONAL INCOME TAX 17001-18181›CHAPTER 8. Natural Resources 17681

§ 17681

California Revenue and Taxation Code · 2026-10 edition · updated 2026-10-04 · California

(a) Subchapter I of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to natural resources, shall apply, except as otherwise provided.

(b) For taxable years beginning on or after January 1, 2024, Section 613(b)(2)(B) of the Internal Revenue Code, in the case of oil shale, shall not apply.

(c) For taxable years beginning on or after January 1, 2024, Section 613(b)(4) of the Internal Revenue Code, relating to 10 percent, in the case of coal, shall not apply.

(d) For taxable years beginning on or after January 1, 2024, Section 613A of the Internal Revenue Code, relating to limitations on percentage depletion in the case of oil and gas wells, shall not apply.

(Amended by Stats. 2024, Ch. 34, Sec. 24. (SB 167) Effective June 27, 2024.)

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California Revenue and Taxation Code

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