(a) Notwithstanding the provisions of Section 23222 and Section 23223, if a corporation, which has been subject to the provisions of Chapter 3 commences to do business in this state, its tax shall be computed as follows:
(1) Such corporation shall pay a tax under Chapter 3 for the whole of the year it commences to do such business;
(2) Such corporation shall, for the taxable year succeeding the year it commences to do business in this state, pay a tax under this chapter measured by its income for that taxable year;
(3) Such corporation shall, for its third taxable year, pay a tax, under this chapter, measured by its income for its second taxable year;
(4) Notwithstanding any other provisions of this part, such corporation shall file its return for such second and third taxable years on or before the 15th day of the third month following the close of its second taxable year.
(b) The provisions of subdivision (a) shall be applicable only if a taxpayer commenced doing business in this state before January 1, 1972.
(Amended by Stats. 1971, 1st Ex. Sess., Ch. 1.)
Last modified: October 25, 2018