Jurris.COM
Section 24611 Of Article 2. Exceptions To Part I Of Subchapter D Of The Internal Revenue Code, Relating To Pension, Profit-sharing, Stock Bonus Plans, Etc. From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 12. >> Article 2.
24611
. (a) Section 404(k) of the Internal Revenue Code, relating to
dividends paid deduction, shall apply to taxable years beginning on
or after January 1, 1995.
(b) For taxable years beginning on or after January 1, 1998, Section 404(a)(9) of the Internal Revenue Code, relating to certain contributions to employee ownership plans, is modified to provide that Section 404(a)(9) of the Internal Revenue Code shall not apply to an "S corporation."
(c) For taxable years beginning on or after January l, 1998, Section 404(k)(1) of the Internal Revenue Code, relating to deduction for dividends on certain employer securities, is modified to provide that the phrase "a corporation" shall read "a C corporation."
(b) For taxable years beginning on or after January 1, 1998, Section 404(a)(9) of the Internal Revenue Code, relating to certain contributions to employee ownership plans, is modified to provide that Section 404(a)(9) of the Internal Revenue Code shall not apply to an "S corporation."
(c) For taxable years beginning on or after January l, 1998, Section 404(k)(1) of the Internal Revenue Code, relating to deduction for dividends on certain employer securities, is modified to provide that the phrase "a corporation" shall read "a C corporation."
