{"data":{"id":"us-ca/rtc-24320","jurisdiction":"us-ca","citation":"RTC § 24320","heading":"","body":"Income derived from the operation of aircraft or a ship or ships by a corporation organized under the laws of a foreign country shall not be included in gross income, and shall be exempt from the taxes imposed by this part if:\n(a) The aircraft are registered or the ships are documented under the laws of the foreign country;\n(b) The income of the corporation is exempt from national income taxes by reason of a treaty or agreement between such foreign country and the United States which provides for an equivalent exemption to corporations organized in the United States; and\n(c) Units of government (other than at the national level) within such foreign country do not impose a tax upon corporations organized in the United States with respect to income derived from the operation of aircraft registered or ships documented under the laws of the United States.","path":["Revenue and Taxation Code - RTC","DIVISION 2. OTHER TAXES [6001. - 61050.]","PART 11. CORPORATION TAX LAW [23001. - 25141.]","CHAPTER 6. Gross Income [24271. - 24329.]","ARTICLE 3. Other Exclusions [24320. - 24329.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"6428938354a5bac09dbff63ae3128c3a18664b7e6681a0070bfe478533c00c01","source_id":"us-ca","stale":false,"prev":"us-ca/rtc-24315","next":"us-ca/rtc-24321"},"notice":"GroundRules: Original legal text. Not legal advice."}