Revenue and Taxation Code Archives - Page 3 of 5

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...

California Wealth Tax Proposed in Constitutional Amendment

March 23, 2021 11:23 amMarch 26, 2021 6:48 am

On March 22, Assembly Members Alex Lee, Wendy Carrillo, Lorena Gonzalez, Miguel Santiago, Ash Kalra, Luz Rivas, and Mark Stone introduced Assembly Constitutional Amendment 8 to propose a wealth tax to be placed before the voters. Officially, ACA 8 is...

AB 820 to Create an Interest Exclusion for Small Biz Loans

March 19, 2021 7:01 amMarch 19, 2021 7:05 am

On March 18, Assemblyman Ken Cooley (D-Sacramento) amended his Assembly Bill 820 to create an interest exclusion for small business loans. The bill would add Sections 24313.5 and 25128.1 to the Revenue and Taxation Code. As a tax levy measure,...

AB 88: Stimulus Payments Trailer Bill

March 1, 2021 3:09 pmMarch 4, 2021 11:48 am

On March 1, Assembly Bill 88 was gutted-and-amended as one of the COVID-19 relief measures. As a budget trailer bill, it will take effect immediately once chaptered. The bill is authored by the Assembly Committee on Budget and will amend...

New Bill Aims for Federal Tax Conformity

February 17, 2021 2:15 pmFebruary 17, 2021 2:24 pm

On February 16, Assemblyman Eduardo Garcia (D-Coachella) introduced Assembly Bill 708 related to federal tax conformity. The bill would amend Sections 17131.8 and 24308.6 of the Revenue and Taxation Code. As an urgency measure, it would take effect immediately once...