Section 24449 Of Article 3. Items Not Deductible From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 7. >> Article 3.

. (a) Section 291 of the Internal Revenue Code, relating to special rules relating to corporate preference items, shall apply, except as otherwise provided.
  (b) The reference in Section 291(b)(1) of the Internal Revenue Code to "Section 263(c)" shall be modified to mean the deduction under Section 24423 of this part.