Cal. Revenue and Taxation Code § 24320
Cal. Revenue and Taxation Code § 24320
California · California Revenue and Taxation Code · Status: effective
Cite this
- Citation
- Cal. Revenue and Taxation Code § 24320, California, version 1 as recorded 2026-07-25, yourstate.us, https://yourstate.us/provision/922020
- Permanent ID
ys:prov:922020@1- SHA-256
2025d918788e8830b7ce31c91e735688a6cea89bd5e5d4ee3a5ef7831d383bb9
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
Income derived from the operation of aircraft or a ship or ships by a corporation organized under the laws of a foreign country shall not be included in gross income, and shall be exempt from the taxes imposed by this part if:
(a) The aircraft are registered or the ships are documented under the laws of the foreign country;
(b) The income of the corporation is exempt from national income taxes by reason of a treaty or agreement between such foreign country and the United States which provides for an equivalent exemption to corporations organized in the United States; and
(c) Units of government (other than at the national level) within such foreign country do not impose a tax upon corporations organized in the United States with respect to income derived from the operation of aircraft registered or ships documented under the laws of the United States.