California Revenue & Taxation Code
Cal. Rev. & Tax. Code § 23102
Official textleginfo.legislature.ca.gov
Any corporation holding or organized to hold stock or bonds of any other corporation or corporations, and not trading in stock or bonds or other securities held, and engaging in no activities other than the receipt and disbursement of dividends from stock or interest from bonds, is not a corporation doing business in this State for the purposes of this chapter.
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