Revenue and Taxation Code § 24365

24365.

(a) Section 174 of the Internal Revenue Code, relating to research and experimental expenditures, shall apply, except as otherwise provided.

(b) Section 174(b) of the Internal Revenue Code is modified to refer to subdivision (a) of Section 24916 in lieu of Section 1016(a)(1) of the Internal Revenue Code.

(c) Section 174(c) of the Internal Revenue Code is modified to refer to Sections 24349 to 24356, inclusive, in lieu of Section 167 of the Internal Revenue Code.

(d) The amendments made by Section 13206(a) of the Tax Cuts and Jobs Act, 2017 (Public Law 115-97), relating to amortization of research and experimental expenditures, for taxable years beginning on or after January 1, 2022, shall not apply.