California CodesCalifornia Constitution - CONSArticle XIII — TaxationSection 27
The Legislature, a majority of the membership of each house concurring, may tax corporations, including state and national banks, and their franchises by any method not prohibited by this Constitution or the Constitution or laws of the United States. Unless otherwise provided by the Legislature, the tax on state and national banks shall be according to or measured by their net income and shall be in lieu of all other taxes and license fees upon banks or their shares, except taxes upon real property and vehicle registration and license fees.
Notes
Allows the Legislature, by majority vote of each house, to tax corporations, including state and national banks, by any constitutionally and federally permitted method. Unless legislation provides otherwise, taxes banks on net income in place of all other taxes and license fees except real-property taxes and vehicle registration and license fees.
Use as reference
Lexinter.net | Cal. Const. art. XIII, § 27 | https://laws.lexinter.net/constitution/california/article-xiii/section-27