BILL NUMBER: AB 2564	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Swanson

                        FEBRUARY 19, 2010

   An act to amend Section 25121 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2564, as introduced, Swanson. Corporation Tax Law: net income:
allocation and apportionment.
   The Corporation Tax Law imposes taxes measured by income and, in
the case of a business with income derived from or attributable to
sources both within and without this state, requires the taxpayer to
allocate and apportion its net income, as provided.
   This bill would make a technical, nonsubstantive change to this
allocation and apportionment 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 25121 of the Revenue and Taxation Code is
amended to read:
   25121.  Any taxpayer having income from business activity 
which   that  is taxable both within and without
this state shall allocate and apportion its net income as provided in
this act.