Amended by Stats. 1997, Ch. 605, Sec. 92. Effective January 1, 1998.
The term “organizational expenditures” means any expenditure that meets all of the following requirements:
(a)Is incident to the creation of the corporation.
(b)Is chargeable to capital account.
(c)Is of a character which, if expended incident to the creation of a corporation having a limited life, would be amortizable over that life.
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Other sections in Article 2 - Special Deductions