Revenue and Taxation Code section 23459

For purposes of this part, the provisions of Section 59 of the Internal Revenue Code are modified as follows:

(a)

Section 59(a) of the Internal Revenue Code, relating to the alternative minimum tax foreign tax credit, shall not be applicable.

(b)

Section 59(b) of the Internal Revenue Code, relating to income eligible for the credit under Section 936 of the Internal Revenue Code, shall not be applicable.

(c)

Subparagraphs (A), (B), and (C) of Section 59(e)(2) of the Internal Revenue Code, relating to qualified expenditures, are modified to refer to:

(1)

Section 24364, in lieu of the deduction under Section 173 of the Internal Revenue Code.

(2)

Section 24423, in lieu of the deduction under Section 263(c) of the Internal Revenue Code.

Source: Section 23459, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=23459.­ (updated Jul. 16, 1991; accessed Aug. 25, 2025).

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Verified:
Aug. 25, 2025

§ 23459's source at ca​.gov