Will the qualified settlement fund be subject to the corporate minimum tax of $800? Please advise.
Pauline, Pursuant to Rev. & Tax. Code Sec. 24693 and FTB Notice 93-8, the fund is only subject to the corporate tax of 8.84% under R&TC Sec. 23501. I do not believe it would be subject to the $800 tax under R&TC Sec. 23153.