Section 23221 Of Article 4. Commencing Corporations From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 2. >> Article 4.
23221
. (a) Any credit union that incorporates under the laws of
this state or qualifies to transact intrastate business in this state
shall thereupon prepay a tax of twenty-five dollars ($25) as
provided in Section 23153. The prepayment shall be made to the
Secretary of State with the filing of the articles of incorporation
or the statement and designation by a foreign corporation. The
Secretary of State shall transmit the amount of the prepayment to the
Franchise Tax Board. The Franchise Tax Board shall certify to the
Secretary of State on an individual or class basis those domestic or
foreign corporations that are exempt from prepayment or for which
prepayment to the Secretary of State is waived.
(b) This section shall become operative and apply beginning on or
after January 1, 2001.