Cal. Code Regs. tit. 18 § 24423

Current through Register 2024 Notice Reg. No. 52, December 27, 2024

Section 24423 - Intangible Drilling and Development Costs in the Case of Oil and Gas Wells

For rules relating to the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells, see Reg. 2431(d).

Cal. Code Regs. Tit. 18, § 24423

1. New section filed 12-22-69; effective thirtieth day thereafter (Register 69, No. 52).[FN*]
This regulation is substantially the same as Section 26 CFR 1.263(c)-1 .

Note: Authority cited: Section 26422, Revenue and Taxation Code.

1. New section filed 12-22-69; effective thirtieth day thereafter (Register 69, No. 52).