(a)Subchapter S of Chapter 1 of Subtitle A of the Internal…#
(a) Subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to tax treatment of “S corporations” and their shareholders, shall apply, except as otherwise provided under this part or Part 11 (commencing with Section 23001).
(b)Section 1371(f) of the Internal Revenue Code, relating…#
(b) Section 1371(f) of the Internal Revenue Code, relating to cash distributions following post-termination transition period, shall not apply.
(Amended by Stats. 2025, Ch. 231, Sec. 13. (SB 711) Effective October 1, 2025.)