California Law (Last Updated: March 4, 2014) |
Revenue and Taxation Code - RTC |
Division 2. OTHER TAXES |
Part 11. CORPORATION TAX LAW |
Chapter 6. Gross Income |
ARTICLE 2. Exclusions |
Section 24309.
Latest version.
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Gross income does not include income (other than rent) derived by a lessor of real property on the termination of a lease, representing the value of such property attributable to buildings erected or other improvements made by the lessee.
(Added by Stats. 1955, Ch. 938.)