Internal Revenue Code – California Globe

Personal Income Tax Laws

July 21, 2026 2:00 pmJuly 21, 2026 2:01 pm

California Revenue and Taxation Code Division 2, Part 10 deals with the Personal Income Tax Laws. Chapter 1 contains general provisions and definitions. Section 17001 names this part as the “Personal Income Tax Law.” Section 17002 specifies that the definitions...

Capital Gains and Losses

June 23, 2026 2:30 amJune 23, 2026 2:31 am

Division 2, Part 10, Chapter 14 of the Revenue and Taxation Code deals with the general rules for determining capital gains and losses under California’s Personal Income Tax Law. Section 18151 states that Subchapter P of Chapter 1 of Subtitle...

Is It Time for a Federal Tax Conformity Bill in California?

January 28, 2023 3:06 pmJanuary 29, 2023 10:42 am

The tax laws of most states are an off-shoot of the federal tax laws contained in the Internal Revenue Code (IRC). In California, the general rule is that California only conforms to federal law as it was in effect on...

California Wealth Tax Proposed in Constitutional Amendment

March 23, 2021 11:23 amMarch 26, 2021 6:48 am

On March 22, Assembly Members Alex Lee, Wendy Carrillo, Lorena Gonzalez, Miguel Santiago, Ash Kalra, Luz Rivas, and Mark Stone introduced Assembly Constitutional Amendment 8 to propose a wealth tax to be placed before the voters. Officially, ACA 8 is...

‘Time Stealing’ Regulations for ‘The Wealth Tax’

August 17, 2020 1:14 pmAugust 17, 2020 7:58 pm

Can you imagine having to do an inventory and net worth calculation every year? Let alone potentially being audited and having to prove that values were not intentionally understated? It’s not only financial robbery, it’s time theft! – Senator John...

California Dems’ Wealth Tax Follows People Who Move Out of the State

August 17, 2020 7:28 amAugust 18, 2020 8:12 am

Assemblyman Rob Bonta (D-Oakland) made an appearance on “Cavuto: Coast to Coast” Friday to discuss his Wealth Tax proposal. Bonta told Cavuto the tax “affects about 0.15% of the California population — not the top 10%, not the top 1%,...

California Legislators Propose Wealth Tax

August 13, 2020 2:24 pmAugust 13, 2020 2:25 pm

On the morning of August 13, Assembly Bill 2088 was gutted-and-amended an elections bill into a wealth tax. AB 2088 is jointly authored by Assembly Members Bonta, Carrillo, Chiu, Gonzalez, Kalra, Santiago, Stone, Ting, and Wicks. Assembly coauthors include Chu...