23201-23204

REVENUE AND TAXATION CODE
SECTION 23201-23204




23201.  (a) In the case of a taxpayer whose tax for the first
taxable year was computed under Sections 23222 to 23224, inclusive
(or corresponding sections of prior laws), there shall be allowed as
a credit against the tax for the taxable year of dissolution or
withdrawal, the excess of the tax paid over the minimum tax for the
first taxable year which constituted a full 12 months of doing
business in this state and whose income has been included in the
measure of tax of a succeeding taxable year.
   (b) Any credit previously allowed under this section or for a year
in which the taxpayer ceased doing business shall not be allowed
again in computing a credit under this section.



23202.  (a) In the case of a taxpayer who has been a transferee in a
reorganization to which Sections 23251 to 23254, inclusive, or
corresponding sections of prior laws, were applicable, there shall be
allowed as a credit for the taxable year of dissolution or
withdrawal, the excess of the tax paid over the minimum tax paid by
prior transferors or by the transferee as a transferor under Sections
23222 to 23224, inclusive, or corresponding sections of prior laws,
for the first taxable year of the transferors that constituted a full
12 months of doing business and whose income has been included in
the measure of tax of a succeeding taxable year.
   (b) The credit allowable under this section shall be in addition
to any credit that may be allowable to the taxpayer under Section
23201. However, any credit previously allowed under Section 23201,
under this section, or for a year in which the taxpayer or transferor
ceased doing business, shall not be allowed again in computing a
credit under this section.



23203.  The credits provided by Sections 23201 and 23202 shall be
allowable only upon submission by the taxpayer of evidence
establishing to the satisfaction of the Franchise Tax Board the
amount of the tax paid pursuant to Sections 23222 to 23224, inclusive
(or corresponding sections of prior laws), and with respect to which
the credit is claimed.



23204.  (a) No credit under this article shall be allowed or made
after four years from the last day prescribed for filing the return
for the taxable year of dissolution or withdrawal, or within the
periods prescribed under Article 1 of Chapter 22, whichever period
expires the latest, unless before the expiration of such period a
claim therefor is filed by the taxpayer.
   (b) Notwithstanding the provisions of Section 23204(a), no credit
under this article shall be allowed or made to a taxpayer which has
been suspended for a period of four continuous years beginning on or
after January 1, 1975.