The term “organizational expenditures” means any expenditure that meets all of the following requirements:
(a) Is incident to the creation of the corporation.
(b) Is chargeable to capital account.
(c) Is of a character which, if expended incident to the creation of a corporation having a limited life, would be amortizable over that life.
(Amended by Stats. 1997, Ch. 605, Sec. 92. Effective January 1, 1998.)
Last modified: October 25, 2018