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Section 25108 Of Article 1. General Provisions From California Revenue And Taxation Code >> Division 2. >> Part 11. >> Chapter 17. >> Article 1.
25108
. (a) For corporations whose income is subject to the
provisions of Section 25101 or 25101.15, the net operating loss
determined in accordance with Section 172 of the Internal Revenue
Code for a particular taxable year shall be the corporation's "net
loss for state purposes" as defined in subdivision (c).
(b) The net operating loss deduction allowed by Sections 24416, 24416.1, and 24416.2, for a taxable year shall be deducted from "net income for state purposes" (as defined in subdivision (c)) for that taxable year.
(c) "Net income (loss) for state purposes" means the sum of the net income or loss of that corporation apportionable to this state and the income or loss allocable to this state as nonbusiness income, as provided by Chapter 17 (commencing with Section 25101).
(b) The net operating loss deduction allowed by Sections 24416, 24416.1, and 24416.2, for a taxable year shall be deducted from "net income for state purposes" (as defined in subdivision (c)) for that taxable year.
(c) "Net income (loss) for state purposes" means the sum of the net income or loss of that corporation apportionable to this state and the income or loss allocable to this state as nonbusiness income, as provided by Chapter 17 (commencing with Section 25101).
