SB 851 Signed by Gov. Newsom: Small Business Relief Act

September 29, 2022 6:21 amSeptember 29, 2022 6:30 am

On September 28, Governor Gavin Newsom signed into law Senate Bill 851 by Senator Anthony Portantino (D-La Canada-Flintridge), California’s effort to work around the federal government’s limitation of $10,000 on deducting state and local taxes on one’s federal return. SB 851 modifies...

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...