Taxation & Traynor

Document Type


Publication Date



The Bank and Corporation Franchise Tax Act

Sec. 550 Act of 1929 Amended

Sec. 551 Corporations Taxable

Sec. 552 What Is Meant by "Doing Business?"

Sec. 553 Business Trusts

Sec. 554 Income Reported to Federal Government Is the Basis of the Computation of the Tax

Sec. 555 Adjustments; Tax Exempt Interest

Sec. 556 Stock Dividends and Subscription Rights

Sec. 557 Liquidating Dividends

Sec. 558 Dividends Paid in Property Other Than Cash

Sec. 559 Dividends From Earnings Accumulated Prior to Effective Date of the Act

Sec. 560 Proceeds of Life Insurance Policies

Sec. 561 Net Losses

Sec. 562 Adjustment for Taxes.

Sec. 563 Adjustments on Audit of Federal Return

Sec. 564 Interest

Sec. 565 Gains and Losses on Sale of Capital Assets

Sec. 566 Corporate Reorganizations

Sec. 567 Installment Sales

Sec. 568 Wash Sales

Sec. 569 Depreciation and Depletion

Sec. 570 Oil and Gas Wells

Sec. 571 Taxable Year

Sec. 572 Returns

Sec. 573 Payment and Collection of the Tax; Penalties

Sec. 574 Suspension of Forfeiture of Corporate Rights

Sec. 575 Reinstatement of Suspended Corporations

Sec. 576 Minimum Tax.

Sec. 577 Corporations Whose First Taxable Year Is a Period Less

Than Twelve Months

Sec. 578 Termination of Corporate Existence During Year

Sec. 579 Consolidated Returns

Sec. 580 When Does the Tax Become a Lien?

Sec. 581 Allocation of Income

Sec. 582 Offsets

Sec. 583 Deficiencies

Sec. 584 Protest

Sec. 585 Recovery of Illegally Collected Taxes

Sec. 586 Refunds


Reprinted From California Corporation Laws by Henry W. Ballantine,1932