Property owned by the taxpayer is valued at its original cost. Property rented by the taxpayer is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental rate received by the taxpayer from subrentals.
Cal. Rev. & Tax. Code § 25130
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).
Added by Stats. 1966, Ch. 2.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.