For the purposes of the tax imposed under Chapter 2 (commencing with Section 23101), “gross income” includes all interest received from federal, state, municipal or other bonds.
Cal. Rev. & Tax. Code § 24272
Definitions
Applied in 1 court decision — leading case 21 Cal. App. 4th 1730 - Heller v. Franchise Tax Board (1994)
Most recently applied in 21 Cal. App. 4th 1730 - Heller v. Franchise Tax Board (January 1994)
Amended by Stats. 1984, Ch. 193, Sec. 126.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.