The property factor is a fraction, the numerator of which is the average value of the taxpayer’s real and tangible personal property owned or rented and used in this state during the taxable year and the denominator of which is the average value of all the taxpayer’s real and tangible personal property owned or rented and used during the taxable year.
Cal. Rev. & Tax. Code § 25129
Uniform Division of Income for Tax Purposes Act
Known as the Uniform Division of Income for Tax Purposes Act
The act spans §§ 25120–25141 (25 sections).
Amended by Stats. 2000, Ch. 862, Sec. 222
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.