{"data":{"id":"us-ca/rtc-24611","jurisdiction":"us-ca","citation":"RTC § 24611","heading":"","body":"(a) Section 404(k) of the Internal Revenue Code, relating to dividends paid deduction, shall apply to taxable years beginning on or after January 1, 1995.\n(b) For taxable years beginning on or after January 1, 1998, Section 404(a)(9) of the Internal Revenue Code, relating to certain contributions to employee ownership plans, is modified to provide that Section 404(a)(9) of the Internal Revenue Code shall not apply to an “S corporation.”\n(c) For taxable years beginning on or after January l, 1998, Section 404(k)(1) of the Internal Revenue Code, relating to deduction for dividends on certain employer securities, is modified to provide that the phrase “a corporation” shall read “a C corporation.”","path":["Revenue and Taxation Code - RTC","DIVISION 2. OTHER TAXES [6001. - 61050.]","PART 11. CORPORATION TAX LAW [23001. - 25141.]","CHAPTER 12. Deferred Compensation, Etc. [24601. - 24612.]","ARTICLE 2. Exceptions to Part I of Subchapter D of the Internal Revenue Code, Relating to Pension, Profit-Sharing, Stock Bonus Plans, etc. [24611. - 24612.]"],"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":"b546c66f2a6235c6d347bb54fc51c2bb7ff2e77dc8c37291b89a51a5952ab230","source_id":"us-ca","stale":false,"prev":"us-ca/rtc-24602","next":"us-ca/rtc-24612"},"notice":"GroundRules: Original legal text. Not legal advice."}