Personal and corporate income taxes: deductions: illegal activities.
It became law on Oct 4, 2011.
- Stage
- Became law
- Started in
- Assembly
- Sponsors
- 2
- Latest action
- Oct 4, 2011
What it does
The Personal Income Tax Law and the Corporation Tax Law allow various deductions in computing the income that is subject to the taxes imposed by those laws. Those laws, in modified conformity to federal income tax laws, disallow any deduction from gross income if that income is directly derived from, or directly tends to promote or further, illegal activities relating to lotteries, gaming, or horse racing, and other specified illegal activities.
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.