Revenue and Taxation Code section 23201

(a)

In the case of a taxpayer whose tax for the first taxable year was computed under Section 23222 to 23224, inclusive (or corresponding sections of prior laws), there shall be allowed as a credit against the tax for the taxable year of dissolution or withdrawal, the excess of the tax paid over the minimum tax for the first taxable year which constituted a full 12 months of doing business in this state and whose income has been included in the measure of tax of a succeeding taxable year.

(b)

Any credit previously allowed under this section or for a year in which the taxpayer ceased doing business shall not be allowed again in computing a credit under this section.

Source: Section 23201, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=23201.­ (updated Jan. 1, 1977; accessed Jun. 30, 2025).

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Verified:
Jun. 30, 2025

§ 23201's source at ca​.gov