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Article 3. Tax On Banks And Financial Corporations of California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 2. >> Article 3.
(a) Except as otherwise provided herein, an annual tax is
hereby imposed upon every bank doing business within the limits of
this state according to or measured by its net income, upon the basis
of its net income for the next preceding income year at the rate
provided under Section 23186.
(b) If a bank commences to do business and ceases doing business in the same taxable year, the tax for such taxable year shall be according to or measured by its net income for such year, at the rate provided under Section 23186.
(c) With respect to a bank, other than a bank described in subdivision (b), which ceases doing business after December 31, 1972, the tax for the taxable year of cessation shall be:
(1) According to or measured by its net income for the next preceding income year, to be computed at the rate prescribed in Section 23186, plus
(2) According to or measured by its net income for the income year during which the bank ceased doing business, to be computed at the rate prescribed in Section 23186.
(d) In the case of a bank which ceased doing business before January 1, 1973, but dissolves or withdraws on such date or thereafter, the tax for the taxable year of dissolution or withdrawal shall be according to or measured by its net income for the income year during which the bank ceased doing business, unless such income has previously been included in the measure of tax for any taxable year, to be computed at the rate prescribed under Section 23186 for the taxable year of dissolution or withdrawal.
(e) Commencing with income years ending in 1980, every bank shall pay to the state a minimum tax (determined in accordance with Section 23153) or the measured tax imposed on its income, whichever is greater.
(f) (1) For the first taxable year beginning on or after January 1, 2000, the tax imposed under this section shall be the sum of both of the following:
(A) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the next preceding income year, but not less than the minimum tax specified in Section 23153.
(B) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the first taxable year beginning on or after January 1, 2000, but not less than the minimum tax specified in Section 23153.
(2) Except as provided in paragraph (1), for taxable years beginning on or after January 1, 2000, the tax imposed under this section shall be a tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for that taxable year, but not less than the minimum tax specified in Section 23153.
(b) If a bank commences to do business and ceases doing business in the same taxable year, the tax for such taxable year shall be according to or measured by its net income for such year, at the rate provided under Section 23186.
(c) With respect to a bank, other than a bank described in subdivision (b), which ceases doing business after December 31, 1972, the tax for the taxable year of cessation shall be:
(1) According to or measured by its net income for the next preceding income year, to be computed at the rate prescribed in Section 23186, plus
(2) According to or measured by its net income for the income year during which the bank ceased doing business, to be computed at the rate prescribed in Section 23186.
(d) In the case of a bank which ceased doing business before January 1, 1973, but dissolves or withdraws on such date or thereafter, the tax for the taxable year of dissolution or withdrawal shall be according to or measured by its net income for the income year during which the bank ceased doing business, unless such income has previously been included in the measure of tax for any taxable year, to be computed at the rate prescribed under Section 23186 for the taxable year of dissolution or withdrawal.
(e) Commencing with income years ending in 1980, every bank shall pay to the state a minimum tax (determined in accordance with Section 23153) or the measured tax imposed on its income, whichever is greater.
(f) (1) For the first taxable year beginning on or after January 1, 2000, the tax imposed under this section shall be the sum of both of the following:
(A) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the next preceding income year, but not less than the minimum tax specified in Section 23153.
(B) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the first taxable year beginning on or after January 1, 2000, but not less than the minimum tax specified in Section 23153.
(2) Except as provided in paragraph (1), for taxable years beginning on or after January 1, 2000, the tax imposed under this section shall be a tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for that taxable year, but not less than the minimum tax specified in Section 23153.
The tax imposed under this part upon banks and financial
corporations is in lieu of all other taxes and licenses, state,
county and municipal, upon the said banks and financial corporations
except taxes upon their real property, local utility user taxes,
sales and use taxes, state energy resources surcharge, state
emergency telephone users surcharge, and motor vehicle and other
vehicle registration license fees and any other tax or license fee
imposed by the state upon vehicles, motor vehicles or the operation
thereof.
The changes in this section made by the 1979-80 Legislature with
respect to sales and use taxes apply to taxable years beginning on
and after January 1, 1980, and the remaining changes apply to taxable
years beginning on and after January 1, 1981.
(a) For taxable years beginning before January 1, 2000, an
annual tax is hereby imposed upon every financial corporation doing
business within the limits of this state and taxable under the
provisions of Section 27 of Article XIII of the Constitution of this
state, for the privilege of exercising its corporate franchises
within this state, according to or measured by its net income, upon
the basis of its net income for the next preceding income year at the
rate provided under Section 23186.
(b) For purposes of this article, the term "financial corporation" does not include any corporation, including a wholly owned subsidiary of a bank or bank holding company, if the principal business activity of such entity consists of leasing tangible personal property.
(c) (1) For the first taxable year beginning on or after January 1, 2000, the tax imposed under this section shall be the sum of both of the following:
(A) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the next preceding income year, but not less than the minimum tax specified in Section 23153.
(B) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the first taxable year beginning on or after January 1, 2000, but not less than the minimum tax specified in Section 23153.
(2) Except as provided in paragraph (1), for taxable years beginning on or after January 1, 2000, the tax imposed under this section shall be a tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for that taxable year, but not less than the minimum tax specified in Section 23153.
(b) For purposes of this article, the term "financial corporation" does not include any corporation, including a wholly owned subsidiary of a bank or bank holding company, if the principal business activity of such entity consists of leasing tangible personal property.
(c) (1) For the first taxable year beginning on or after January 1, 2000, the tax imposed under this section shall be the sum of both of the following:
(A) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the next preceding income year, but not less than the minimum tax specified in Section 23153.
(B) A tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for the first taxable year beginning on or after January 1, 2000, but not less than the minimum tax specified in Section 23153.
(2) Except as provided in paragraph (1), for taxable years beginning on or after January 1, 2000, the tax imposed under this section shall be a tax according to or measured by net income, to be computed at the rate provided under Section 23186 upon the basis of the net income for that taxable year, but not less than the minimum tax specified in Section 23153.
Notwithstanding Section 23183, every financial corporation
doing business within the limits of this state and not exempted from
taxation by the Constitution of this state or by this part, shall
annually pay to the state for the privilege of exercising its
corporate franchises within this state, a tax determined as follows:
(a) If a financial corporation commences to do business and ceases doing business in the same taxable year, the tax for that taxable year shall be according to or measured by its net income for that year, at the rate provided under Section 23186.
(b) (1) With respect to taxable years beginning before January 1, 2000, other than the year of commencement described in subdivision (a) or the year of cessation described in subdivision (c), a tax according to or measured by its net income, to be computed at the rate prescribed in Section 23186 upon the basis of its net income for the next preceding income year.
(2) With respect to taxable years beginning on or after January 1, 2000 (other than the first taxable year beginning on or after that date), the tax for the taxable year (including the taxable year of commencement and the taxable year of cessation) shall be a tax according to or measured by its net income, to be computed at the rate prescribed in Section 23186 upon the basis of its net income for the taxable year.
(c) With respect to financial corporations, which cease doing business in a taxable year beginning before January 1, 2000, other than those described in subdivision (a), the tax for the taxable year of cessation shall be:
(1) According to or measured by its net income for the next preceding income year to be computed at the rate prescribed in Section 23186, plus
(2) According to or measured by its net income for the income year during which the financial corporation ceased doing business, to be computed at the rate prescribed in Section 23186.
(a) If a financial corporation commences to do business and ceases doing business in the same taxable year, the tax for that taxable year shall be according to or measured by its net income for that year, at the rate provided under Section 23186.
(b) (1) With respect to taxable years beginning before January 1, 2000, other than the year of commencement described in subdivision (a) or the year of cessation described in subdivision (c), a tax according to or measured by its net income, to be computed at the rate prescribed in Section 23186 upon the basis of its net income for the next preceding income year.
(2) With respect to taxable years beginning on or after January 1, 2000 (other than the first taxable year beginning on or after that date), the tax for the taxable year (including the taxable year of commencement and the taxable year of cessation) shall be a tax according to or measured by its net income, to be computed at the rate prescribed in Section 23186 upon the basis of its net income for the taxable year.
(c) With respect to financial corporations, which cease doing business in a taxable year beginning before January 1, 2000, other than those described in subdivision (a), the tax for the taxable year of cessation shall be:
(1) According to or measured by its net income for the next preceding income year to be computed at the rate prescribed in Section 23186, plus
(2) According to or measured by its net income for the income year during which the financial corporation ceased doing business, to be computed at the rate prescribed in Section 23186.
Notwithstanding Section 23183, every financial corporation
not exempted from taxation by the provisions of the Constitution of
this state or by this part which dissolves or withdraws, shall pay a
tax for its taxable year of dissolution or withdrawal according to or
measured by its net income for the taxable year in which it ceased
doing business, to be computed at the rate prescribed in Section
23186 for its taxable year of dissolution or withdrawal, unless the
income has previously been included in the measure of tax for any
taxable year.
For taxable years ending on or after December 31, 1995, the
rate of tax on banks and financial corporations shall be the rate of
tax specified in Section 23151, plus 2 percent.
Upon the request of a taxpayer under this chapter, the
tax-collecting officer of a county, city, or other political
subdivision of this State, shall furnish an official receipt for real
and personal property taxes paid to him setting forth a description
of such property, the assessed valuation thereof, the rate of tax,
the amount of taxes paid, and the beginning and ending of the year
for which the taxes are paid.
In the event that taxes, interest, or penalties have been or
shall be assessed against, paid by, or collected from a taxpayer
under a subdivision of Section 23181 or 23183.1, which assessment,
payment, or collection should have been made under a different
subdivision of those sections, the taxes, interest, or penalties
shall be considered as having been assessed, paid, or collected under
that different subdivision as of the date or dates they were made.
