The average value of property shall be determined by averaging the values at the beginning and ending of the taxable year but the Franchise Tax Board may require the averaging of monthly values during the taxable year if reasonably required to reflect properly the average value of the taxpayer’s property.
Cal. Rev. & Tax. Code § 25131
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. 223
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.