California Assembly Bill AB638 Introduced / Bill

 BILL NUMBER: AB 638INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Knight FEBRUARY 25, 2009 An act to amend Section 24401 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGEST AB 638, as introduced, Knight. Corporation taxes: deductions. The Corporation Tax Law specifies that certain deductions are allowed in computing taxable income. This bill would make technical, nonsubstantive changes to those specification provisions. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 24401 of the Revenue and Taxation Code is amended to read: 24401. In addition to  the deductions   any deduction  provided in Article 1 (commencing with Section 24341), there shall be allowed as deductions in computing taxable income the items specified in this article.