California § 24409 - The election provided by Section 24407 may be made for any taxable year beginning
Full text of California Public Contract Code - PCC § 24409 — The election provided by Section 24407 may be made for any taxable year beginning, with citation guidance and answers to common questions.
§ 24409. The election provided by Section 24407 may be made for any taxable year beginning
The election provided by Section 24407 may be made for any taxable year beginning after December 31, 1960, but only if made not later than the time prescribed by law for filing the return for that taxable year (including extensions thereof). The period so elected shall be adhered to in computing the income of the corporation for the taxable year for which the election is made and all subsequent taxable years. The election shall apply only with respect to the expenditures paid or incurred on or after June 23, 1961.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 24409
What does Public Contract Code - PCC § 24409 cover?
Section 24409 ("The election provided by Section 24407 may be made for any taxable year beginning") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 24409?
A common citation format is "Public Contract Code - PCC § 24409" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 24409 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.