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California Law (Last Updated: March 4, 2014) |
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Revenue and Taxation Code - RTC |
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Division 2. OTHER TAXES |
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Part 11. CORPORATION TAX LAW |
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Chapter 4. Exempt Corporations |
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ARTICLE 2. Taxation of Business Income of Certain Article 1 Organizations |
Section 23732.
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Section 512 of the Internal Revenue Code, relating to unrelated business taxable income, shall apply, except as otherwise provided.
(a) Section 512(a)(2) of the Internal Revenue Code, relating to special rule for foreign organizations, shall not be applicable.
(b) Section 512(a)(3) of the Internal Revenue Code, relating to special rules applicable to organizations described in paragraph (7), (9), (17), or (20) of Section 501(c), shall be modified as follows:
(1) The reference to Section 501(c)(7) of the Internal Revenue Code shall be modified to refer to Section 23701g.
(2) The reference to Section 501(c)(9) of the Internal Revenue Code shall be modified to refer to Section 23701i.
(3) The reference to Section 501(c)(17) of the Internal Revenue Code shall be modified to refer to Section 23701n.
(4) The reference to Section 501(c)(20) of the Internal Revenue Code shall be modified to refer to Section 23701q.
(c) Section 512(d) of the Internal Revenue Code, relating to treatment of dues of agricultural or horticultural organizations, shall be modified by substituting "Section 23701a" for "Section 501(c)(5)" of the Internal Revenue Code.
(d) Section 512(b)(13)(E) of the Internal Revenue Code is modified as follows:
(1) The phrase "tax imposed under Part 10 (commencing with Section 17001) or this part" shall be substituted for "tax imposed by this chapter" in Section 512(b)(13)(E)(ii) of the Internal Revenue Code.
(2) The phrase "January 1, 2010," shall be substituted for "the date of the enactment of this subparagraph" in Section 512(b)(13)(iii)(I) of the Internal Revenue Code.
(3) The amendments made by the act adding this subdivision shall apply to payments received or accrued on or after January 1, 2010.