SALT deduction Archives - California Globe

New Bill is Work-Around to Federal State and Local Tax Deduction

March 10, 2021 11:32 amMarch 10, 2021 12:28 pm

Senators Mike McGuire (D- Healdsburg,) and Anna Caballero (D-Salinas) made amendments on March 9 to their Senate Bill 104, which is a “work-around” to the federal state and local tax (SALT) limitation. The bill would add and repeal Section 17052.10...

Gov. Newsom’s ‘Conformity’ Tax Proposal Cherry-Picking Changes to Federal Law

June 20, 2019 2:05 amJune 20, 2019 8:32 am

California Gov. Gavin Newsom’s proposed state budget contains more than $2 billion in new state taxes, even with $21 billion state surplus. Newsom proposed adopting some of the Trump federal tax code changes – and limiting deductions for business losses,...