§ 24345-5. Federal Social Security Taxes and State Unemployment Insurance Contributions.

Source: https://govt.westlaw.com/calregs/Document/IFE9B9A834C8311EC89E5000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)

Taxes on, according to or measured by income or profits, imposed by the Government of the United States or any foreign country or any state, territory, or political subdivision thereof, including all taxes paid or accrued to this State under this part, are not deductible.

Taxes and contributions paid by employers pursuant to the Federal Social Security Act or the California Unemployment Insurance Act are deductible from gross income in computing the employer's net income.

Credits

Note: Authority cited: Section 26422, Revenue and Taxation Code. Reference: Section 24345, Revenue and Taxation Code.

History

1. New Reg. 24345(e) filed 12-14-64; effective thirtieth day thereafter (Register 64, No. 25).

2. Renumbering of Section 24345(e) to Section 24345-5 filed 9-3-82; effective thirtieth day thereafter (Register 82, No. 37).