Franchise Tax Board Archives - Page 3 of 6

No More Second Home Mortgage Interest Deduction

February 18, 2021 6:15 amFebruary 18, 2021 6:28 am

Assemblyman Alex Lee (D-San Jose) introduced Assembly Bill 946 February 17, which would deny the deduction for a non-principal residence. The bill would amend Section 51342 of the Health and Safety Code and add Section 17226 to the Revenue and Taxation...

New Bill to Create a Homeless Employee Tax Credit

February 13, 2021 10:05 amFebruary 13, 2021 9:07 am

On February 12, Senator Maria Elena Durazo (D-Los Angeles) introduced Senate Bill 424 to create a tax credit for homelessness. The bill would add and repeal Section 23628 of the Revenue and Taxation Code. Section One of the bill would...

AB 545 Requests UC Regents Review of Tax Expenditures

February 11, 2021 7:26 amFebruary 11, 2021 9:40 am

On February 10, Assemblyman Bill Quirk (D-Hayward) introduced Assembly Bill 545 to have the University of California conduct research on California’s tax expenditures. The bill would add Section 42 to the Revenue and Taxation Code. AB 545 would request the...

Refunding the ‘Cal Competes Tax Credit’ through Senate Bill 313

February 5, 2021 1:27 pmFebruary 5, 2021 1:40 pm

On February 4, Senator Maria Elena Durazo (D-Los Angeles) introduced Senate Bill 313, which would allow the refund to taxpayers of their California Competes tax credits if specified conditions are met. The bill would amend Revenue and Taxation Code Sections...

AB 71 Amended to add Tax Increases to Fund ‘Bring California Home Act’

January 13, 2021 3:53 pmJanuary 13, 2021 4:17 pm

Assembly Bill 71 was amended on January 12 to replace its intent language with dozens of pages of substantive amendments, including several major tax increase proposals. This article only examines the tax provisions of AB 71. The bill is jointly...

California’s General Fund Relies on the Super Rich and Federal Bailouts

January 13, 2021 2:15 amJanuary 13, 2021 6:11 pm

One of the biggest reasons California’s technology moguls supported the Biden/Harris candidacy had nothing to do with ideology. It had to do with their pocketbooks. Because with a Californian presiding over the Senate, and a Californian Speaker of the House,...

Senator Patricia Bates authored SB 57. (Kevin Sanders for California Globe)

Gov. Newsom Signs Bill To Eliminate Non-Profit State Filing Fees

September 10, 2020 2:20 pm

On Thursday, Governor Gavin Newsom signed into a law a bill that will remove California Franchise Tax Board (FTB) filing fees for non-profit organizations applying for state tax exemptions. Senate Bill 934, authored by Senator Patricia Bates (R-Laguna Niguel), will...