Revenue and Taxation Code – Page 2

Pilot Program Bills Should Contain Certain Provisions

October 31, 2023 7:48 amOctober 31, 2023 8:11 am

Like bills creating or expanding tax expenditure programs (TEPs), I believe all pilot program bills should contain certain provisions. In my mind, pilot program bills should contain evaluation criteria and a sunset date. They should also contain findings and declarations...

California State Capitol dome shines against blue sky

Why Do Tax Statutes Use Different Repeal Language?

October 16, 2023 2:49 pmOctober 16, 2023 5:20 pm

As readers know, the California Legislature occasionally places “sunset dates,” or “repealers,” in a bill so that the enacted statute will be repealed as of a specified date. This is usually accomplished by the following provision: This section shall remain...

SB 220: New Tax Increases and Relief Proposal

May 28, 2023 7:54 amMay 28, 2023 8:01 am

On May 25, the Senate Budget and Fiscal Review Committee gutted-and-amended Senate Bill 220 to put forth their tax reform package, which has received opposition from Governor Gavin Newman and would require a 2/3 vote of each house. Section 1...

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...