California Legislature—2013–14 Regular Session

Assembly Bill No. 990

Introduced by Assembly Member Conway

February 22, 2013

An act to amend Section 23040 of the Revenue and Taxation Code, relating to taxation.

LEGISLATIVE COUNSEL’S DIGEST

AB 990, as introduced, Conway. Income taxes: corporate.

The Corporation Tax Law provides that income derived from or attributable to sources within this State includes income from specified types of property.

This bill would make technical, nonsubstantive changes to that provision.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

SECTION 1.  

Section 23040 of the Revenue and Taxation Code
is amended to read:

23040.  

Income derived from or attributable to sources within
this begin delete State end delete begin insert state end insert includes income from tangible or intangible property
located or having a situs in this begin delete State end delete begin insert state end insert and income from any
activities carried on in this begin delete State end delete begin insert state end insert , regardless of whether carried
on in intrastate, interstate begin insert , end insert or foreign commerce.