Cal. Rev. & Tax. Code § 24721
Adjustments Required by Changes in Method
Redline — January 1, 2011 → current.View current text →
Current — January 1, 2025
As of January 1, 2011
Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.
(a) Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.
(b) Section 481(d) of the Internal Revenue Code, relating to adjustments attributable to conversion from “S” corporation to “C” corporation, shall not apply.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.