California Senate Bill SB229 Introduced / Bill

 BILL NUMBER: SB 229INTRODUCED BILL TEXT INTRODUCED BY Senator Wyland FEBRUARY 9, 2011 An act to amend Section 23040 of the Revenue and Taxation Code, relating to taxation. LEGISLATIVE COUNSEL'S DIGEST SB 229, as introduced, Wyland. Income Taxes: corporate. The Corporation Tax Law provides that income derived from or attributable to sources within this state includes income from specified types of property. This bill would make technical, nonsubstantive changes to that provision. 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 23040 of the Revenue and Taxation Code is amended to read: 23040. Income derived from or attributable to sources within this  State   state  includes income from tangible or intangible property located or having a situs in this  State   state  and income from any activities carried on in this  State   state  , regardless of whether carried on in intrastate, interstate  ,  or foreign commerce.