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Chapter 3.5. Bank and Corporation Tax›Subchapter 7. Net Income›Article 3. Items Not Deductible

§ 24423. Intangible Drilling and Development Costs in the Case of Oil and Gas Wells.

California Code of Regulations, Title 18 — Division 3. Franchise Tax Board · 2026 edition · updated 2026-10-05 · California

Source: https://govt.westlaw.com/calregs/Document/I00A944D34C8411EC89E5000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)

§ 24423. [FN*] Intangible Drilling and Development Costs in the Case of Oil and Gas Wells.

For rules relating to the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells, see Reg. 24831(d).

Credits

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

History

  1. New section filed 12-22-69; effective thirtieth day thereafter (Register 69, No. 52).

  2. Editorial correction of cross reference section number 2431(d) to 24831(d) (Register 2024, No. 10).

[FN*]

This regulation is substantially the same as Section 26 CFR 1.263(c)-1.

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▸Contents — California Code of Regulations, Title 18 — Division 3. Franchise Tax Board
California Code of Regulations, Title 18 — Division 3. Franchise Tax Board

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