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Earlier editions: 2020-112018-112026-09

DIVISION 2. OTHER TAXES 6001-61050›PART 11. CORPORATION TAX LAW 23001-25141›CHAPTER 7. Net Income 24341-24449›ARTICLE 1. Deductions 24341-24383

§ 24360

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

In the case of any bond, as defined in Section 24363, the following rules shall apply to the amortizable bond premium (determined under Section 24361 on the bond):

(a) In the case of a bond, the amount of the amortizable bond premium for the taxable year shall be allowed as a deduction.

(b) In the case of any bond the interest on which is excludable from gross income under Chapter 3 (commencing with Section 23501), no deduction shall be allowed for the amortizable bond premium for the taxable year.

(Amended by Stats. 2000, Ch. 862, Sec. 147. Effective January 1, 2001.)

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California Revenue and Taxation Code

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