November deadline passes for California I.R.C. conformity; I.R.C. Sec. 355 provisions may be impacted

California's 2010 I.R.C. conformity bill may be "void" as of November 3, 2011, leaving California taxpayers uncertain as to which rules apply, and when, with respect a variety of conformity issues, including the active trade or business requirement under Internal Revenue Code (I.R.C.) Section 355.