Cal. Code Regs. tit. 18 § 23151

Current through Register 2024 Notice Reg. No. 24, June 14, 2024
Section 23151 - Minimum Tax

The minimum tax shall be paid even though the tax measured by the corporation's net income is less than that amount during the income year. Such payment shall be made by cooperatives, domestic holding companies, corporations sustaining a net loss, and inactive corporations. An inactive gold mining corporation shall not be considered to have done business if it engages in incidental activities, other than mining. Every domestic corporation is subject to the annual minimum tax from the date of incorporation until the certificate of dissolution is filed with the Secretary of State, even though the corporation may cease doing business prior thereto. If a foreign corporation qualifies to engage in intrastate activities, it is subject to the minimum tax until it files a certificate of withdrawal with the Secretary of State or dissolves in the state of incorporation, even though it never engages in intrastate activities. A foreign corporation which does not qualify to engage in intrastate activities, but nevertheless engages in such activities, is subject to at least the minimum tax for any year or years that it engages in such activities.

Cal. Code Regs. Tit. 18, § 23151

1. New section filed 1-7-58; effective thirtieth day thereafter (Register 58, No. 1).
2. Amendment filed 9-19-69; effective thirtieth day thereafter (Register 69, No. 38).
3. Renumbering and amendment of Section 23151-23154 to Section 23151 filed 9-3-82; effective thirtieth day thereafter (Register 82, No. 37).

Note: Authority cited: Section 26422, Revenue and Taxation Code. Reference: Section 23153, Revenue and Taxation Code.

1. New section filed 1-7-58; effective thirtieth day thereafter (Register 58, No. 1).
2. Amendment filed 9-19-69; effective thirtieth day thereafter (Register 69, No. 38).
3. Renumbering and amendment of Section 23151-23154 to Section 23151 filed 9-3-82; effective thirtieth day thereafter (Register 82, No. 37).