Revenue and Taxation Code – Page 4

California’s New Employment Tax Credit Proposal

February 16, 2022 5:04 pmFebruary 16, 2022 4:35 pm

On February 14, Assembly Member Carlos Villapudua (D-Stockton) introduced Assembly Bill 2035 to make important changes to California’s existing New Employment Credit (NEC). Under existing law, in both the Personal Income Tax Law and the Corporation Tax Law, there is...

California Enacts Economic Relief in Early Budget Action

February 12, 2022 5:35 pmFebruary 12, 2022 2:58 pm

As part of the “early action” budget items, Senate Bill 113 (Budget and Fiscal Review Committee) was amended on February 2, passed the Legislature on February 7, and signed into law by Governor Gavin Newsom on February 9 as Chapter...

Economic Relief Coming in Assembly Bill 87

February 2, 2022 5:21 pmFebruary 2, 2022 5:33 pm

As part of the “early action” budget items, Assembly Bill 87 was amended the afternoon of February 2 for a vote next expected next week on the Floors of the Senate and Assembly. AB 87 is authored by the Assembly...

Proposed Ballot Initiatives Raise Corporate Taxes to Pay For Climate Change Mitigation

November 16, 2021 2:22 amNovember 15, 2021 7:48 pm

Submitted to the California Attorney General in early November, two similar ballot measures (21-0037 and 21-0038) would address the reduction and mitigation of major sources of greenhouse gas emissions, paid for by major tax increases. Both measures have the same...

Drafting Tax Statutes in California

October 21, 2021 6:48 amOctober 21, 2021 6:58 am

Like other particular areas of the law, drafting tax statutes can be a difficult task for any bill drafter. There are several issues that need to be addressed and that bill drafters should understand before undertaking the drafting of tax...

Gov. Newsom Signs SB 144 to Enhance Film and TV Tax Credits

July 21, 2021 3:52 pmJuly 22, 2021 8:15 am

On July 21, Governor Newsom signed Senate Bill 144 by State Senator Anthony Portantino (D-Pasadena) to enhance California’s film and television tax credits. SB 144 is Chapter 114. The bill amends Sections 38.9, 17053.98, 19393, and 23698 and adds Section...

AB 150, the Tax Budget Trailer Bill: What Does it Do Exactly?

July 16, 2021 2:59 pmJuly 18, 2021 8:14 pm

The Legislature passed and Governor Newsom signed on July 16 Assembly Bill 150, the tax budget trailer bill, by the Committee on Budget dealing with Sales and Use Tax Law, Personal Income Tax Law, and Corporation Tax Law. AB 150...