Tag: net operating loss deduction
Will the California Budget Include Temporary Tax Increases?
While the Governor and Legislature adopted similar proposals just four years ago at the outset of the pandemic, there are proposed significant, temporary tax increases on California’s business community in the budget proposals currently under consideration. The net operating loss...
California Budget Includes Major Revenue Raisers and Other State Tax Law Changes
As part of the 2020-21 California State budget, where the state’s fiscal year begins July 1, the Legislature passed and Governor Newsom is expected to sign AB 85 (Committee on Budget), which makes numerous tax law changes, including suspension of...