Revenue and Taxation Code section 24875

(a)

A financial asset securitization investment trust (FASIT) shall be subject to the minimum franchise tax imposed under Section 23153.

(b)

For purposes of Chapter 4 of Part 10.2 (commencing with Section 19001) the taxes imposed by this section shall be treated as taxes to which the deficiency procedures of that article apply.

Source: Section 24875, https://leginfo.­legislature.­ca.­gov/faces/codes_displaySection.­xhtml?lawCode=RTC§ionNum=24875.­ (updated Jan. 1, 2012; accessed Jun. 25, 2025).

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Verified:
Jun. 25, 2025

§ 24875's source at ca​.gov