Revenue and Taxation Code Archives - Page 4 of 5

New Bill to Suspend Annual Tax Payments for Small Business

February 13, 2021 6:13 pmFebruary 13, 2021 6:14 pm

On February 12, Assembly Member Frank Bigelow introduced Assembly Bill 664 to suspend annual tax payments for small businesses. The bill would amend Sections 17935, 17941, 17948, and 19001, and add Section 19001.5 to the Revenue and Taxation Code. This...

Exception to Business Incentives Suspension

February 12, 2021 2:38 amFebruary 11, 2021 10:52 pm

On February 11, Assembly Members Cottie Petrie-Norris, Tom Daly, Jacqui Irwin, and Kevin Mullin introduced Assembly Bill 593 to create exceptions to the current suspension of the net operating loss deduction and limitation on the use of business tax credits....

SB 49 Would Provide COVID Relief for Business License Fees

February 4, 2021 7:11 amFebruary 5, 2021 1:42 pm

As amended February 1, Senate Bill 49 by Senator Tom Umberg (D-Santa Ana) would provide an exemption from license fees imposed on businesses. It would add Sections 16000.9 and 16100.9 to the Business and Professions Code, add Section 8627.9 to...

California’s Small Business Hiring Credit Taking Applications

December 1, 2020 11:15 amDecember 1, 2020 11:17 am

At the end of the 2020 Legislative Session, Senate Bill (SB) 1447, jointly authored by Senators Steve Bradford and Anna Caballero, as well as Assembly Member Sabrina Cervantes, was passed and signed into law to create a tax credit for...

Two New Tax Bills Arise in Waning Days of Session

August 29, 2020 6:58 amAugust 29, 2020 7:01 am

On August 28, Assembly Bill 1876 was amended to make a series of tax law changes. AB 1876 is authored by the Assembly Committee on Budget and it would amend Section 17052 of the Revenue and Taxation Code. As a...

SB 1447 Budget Trailer Bill Would Provide a New Hiring Tax Credit

August 28, 2020 5:13 pmAugust 28, 2020 5:23 pm

On August 27, Senate Bill 1447 was gutted-and-amended from a bill dealing with mortgages to a bill on small business tax credits. SB 1447 is jointly authored by Senators Steve Bradford and Anna Caballero, as well as Assembly Member Sabrina...

‘Time Stealing’ Regulations for ‘The Wealth Tax’

August 17, 2020 1:14 pmAugust 17, 2020 7:58 pm

Can you imagine having to do an inventory and net worth calculation every year? Let alone potentially being audited and having to prove that values were not intentionally understated? It’s not only financial robbery, it’s time theft! – Senator John...