CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 1310Introduced by Senator AtkinsFebruary 21, 2020 An act to amend Section 23102 of the Revenue and Taxation Code, relating to taxation.LEGISLATIVE COUNSEL'S DIGESTSB 1310, as introduced, Atkins. Corporate franchise taxes.The Corporation Tax Law prescribes the conditions for when a taxpayer is doing business in this state for a taxable year. Under existing law, a corporation holding stock and bonds but engaging in no activities other than receiving dividends, as specified, is not doing business in the state for a taxable year.This bill would make nonsubstantive changes to that provision.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO Bill TextThe people of the State of California do enact as follows:SECTION 1. Section 23102 of the Revenue and Taxation Code is amended to read:23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION Senate Bill No. 1310Introduced by Senator AtkinsFebruary 21, 2020 An act to amend Section 23102 of the Revenue and Taxation Code, relating to taxation.LEGISLATIVE COUNSEL'S DIGESTSB 1310, as introduced, Atkins. Corporate franchise taxes.The Corporation Tax Law prescribes the conditions for when a taxpayer is doing business in this state for a taxable year. Under existing law, a corporation holding stock and bonds but engaging in no activities other than receiving dividends, as specified, is not doing business in the state for a taxable year.This bill would make nonsubstantive changes to that provision.Digest Key Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO
CALIFORNIA LEGISLATURE 20192020 REGULAR SESSION
Senate Bill
No. 1310
Introduced by Senator AtkinsFebruary 21, 2020
Introduced by Senator Atkins
February 21, 2020
An act to amend Section 23102 of the Revenue and Taxation Code, relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
## LEGISLATIVE COUNSEL'S DIGEST
SB 1310, as introduced, Atkins. Corporate franchise taxes.
The Corporation Tax Law prescribes the conditions for when a taxpayer is doing business in this state for a taxable year. Under existing law, a corporation holding stock and bonds but engaging in no activities other than receiving dividends, as specified, is not doing business in the state for a taxable year.This bill would make nonsubstantive changes to that provision.
The Corporation Tax Law prescribes the conditions for when a taxpayer is doing business in this state for a taxable year. Under existing law, a corporation holding stock and bonds but engaging in no activities other than receiving dividends, as specified, is not doing business in the state for a taxable year.
This bill would make nonsubstantive changes to that provision.
## Digest Key
## Bill Text
The people of the State of California do enact as follows:SECTION 1. Section 23102 of the Revenue and Taxation Code is amended to read:23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
The people of the State of California do enact as follows:
## The people of the State of California do enact as follows:
SECTION 1. Section 23102 of the Revenue and Taxation Code is amended to read:23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
SECTION 1. Section 23102 of the Revenue and Taxation Code is amended to read:
### SECTION 1.
23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.
23102. Any A corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State state for the purposes of this chapter.