California § 24673 - Where a corporation subject to the tax imposed by Chapter 2 is engaged in the per
Full text of California Public Contract Code - PCC § 24673 — Where a corporation subject to the tax imposed by Chapter 2 is engaged in the per, with citation guidance and answers to common questions.
§ 24673. Where a corporation subject to the tax imposed by Chapter 2 is engaged in the per
Where a corporation subject to the tax imposed by Chapter 2 is engaged in the performance of a contract in this State which will require more than a year to complete, the Franchise Tax Board may require that the income from the contract be reported on the basis of percentage of completion unless the corporation furnishes bond or other security guaranteeing the payment of a tax measured by the income received on the completion of the contract even though the corporation is not doing business in this State in the year subsequent to the year of completion.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 24673
What does Public Contract Code - PCC § 24673 cover?
Section 24673 ("Where a corporation subject to the tax imposed by Chapter 2 is engaged in the per") 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 § 24673?
A common citation format is "Public Contract Code - PCC § 24673" (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 § 24673 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.