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Section 24654 Of Article 2. Methods Of Accounting From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 13. >> Article 2.
24654
. (a) Section 448 of the Internal Revenue Code, relating to
limitation on use of cash method of accounting, shall apply, except
as otherwise provided.
(b) For purposes of applying Section 448 of the Internal Revenue Code, Sections 801(d)(2), 801(d)(3), and 801(d)(5) of the Tax Reform Act of 1986 (Public Law 99-514), as modified by Section 1008(a) of Public Law 100-647, shall apply to each taxable year beginning on or after January 1, 1987.
(b) For purposes of applying Section 448 of the Internal Revenue Code, Sections 801(d)(2), 801(d)(3), and 801(d)(5) of the Tax Reform Act of 1986 (Public Law 99-514), as modified by Section 1008(a) of Public Law 100-647, shall apply to each taxable year beginning on or after January 1, 1987.
