Revenue and Taxation Code section 24721

(a)

Section 481 of the Internal Revenue Code, relating to adjustments required by changes in method of accounting, shall apply, except as otherwise provided.

(b)

Section 481(d) of the Internal Revenue Code, relating to adjustments attributable to conversion from “S” corporation to “C” corporation, shall not apply.

Source: Section 24721, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=24721. (updated Oct. 1, 2025; accessed Oct. 13, 2025).

24721
24725
24726

Up to date

Verified:
Oct. 13, 2025

§ 24721's source at ca.gov

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Location: https://california.public.law/codes/revenue_and_taxation_code_section_24721

Original Source: Section 24721, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=24721. (last accessed Oct. 13, 2025).