Corporation Cannot Deduct California Business Privilege Tax in Year Paid

An accrual-basis taxpayer could not deduct the California business privilege tax in the year it was paid, even though California treated the tax as being incurred in that year.

Source: http://feedproxy.google.com/~r/AICPA_TaxAdvisor/~3/3YdhErWX290/20120815.aspx

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