Section 24875 - Financial asset securitization investment trust subject to minimum franchise tax(a) A financial asset securitization investment trust (FASIT) shall be subject to the minimum franchise tax imposed under Section 23153.(b) For purposes of Chapter 4 of Part 10.2 (commencing with Section 19001) the taxes imposed by this section shall be treated as taxes to which the deficiency procedures of that article apply.Ca. Rev. and Tax. Code § 24875
Amended by Stats 2011 ch 296 (AB 1023),s 286, eff. 1/1/2012.