Effective Jan 1, 2012Amended by Stats. 2011, Ch. 296, Sec. 286. (AB 1023) Effective January 1, 2012.
(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.