Revenue and Taxation Code – Page 2

AB 1105: Sale of Net Operating Losses

March 10, 2023 7:08 amMarch 10, 2023 7:10 am

Assembly Bill 1105 (Petrie-Norris) was recently amended to provide for the sale of net operating losses (NOLs). AB 1105 would amend Revenue and Taxation Code Sections 17276 and 24416, as well as add Revenue and Taxation Code Sections 17137 and...

AB 1951 – Full Exemption for Manufacturing Equipment Purchases

August 28, 2022 4:14 pmAugust 28, 2022 4:17 pm

Assembly Bill 1951 is off to the Governor’s Desk for final action prior to the September 30 deadline for Governor Newsom to act on measures. The bill is jointly authored by Assembly Members Grayson, Cooley, Cooper, Daly, Gipson, Petrie-Norris, Quirk-Silva,...

California Tax Budget Trailer Bill Review

August 27, 2022 5:47 pmAugust 27, 2022 6:01 pm

On August 26, Assembly Bill 158 by the Assembly Committee on Budget was gutted-and-amended to deal with tax relief. The bill would amend Sections 17053.71, 17131.8, 23628, and 24308.6 of, add Section 17053.75 to, and repeal and add Section 19551.3...

SB 851 – Small Business Relief Act

August 27, 2022 11:52 amAugust 27, 2022 11:56 am

Senator Anthony Portantino (D-La Canada-Flintridge) gutted-and-amended his Senate Bill 851 on August 25 to modify the pass-through entity elective tax, which is California’s effort to work around the federal government’s limitation of $10,000 on deducting state and local taxes on...

Is This the Single Longest Code Section Among California Laws?

June 13, 2022 2:56 pmJune 13, 2022 2:58 pm

After spending weeks reviewing all of the more than 155,000 statutes contained in California’s 29 Codes, I came across many that are short in length and many that are quite long. A few long ones stood out to me, including...

What Is a Section 2230 Waiver in California Legislation?

April 2, 2022 7:40 amApril 2, 2022 7:45 am

When readers are looking at bills that affect the California Revenue and Taxation Code, they might come across the following provision that would be near the end of a bill: Notwithstanding Section 2230 of the Revenue and Taxation Code, no...

California State Assembly nearly empty except for a few folks in the balcony.

Appropriating Funds or Not in California Bills

March 16, 2022 6:55 amMarch 16, 2022 6:56 am

California bills can and do appropriate monies from the General Fund or special funds. In other bills, appropriations are specifically not made, even though they may otherwise be required by existing law. Subject to an appropriation in the annual Budget...