Personal income taxes: corporation taxes: transfer of tax losses.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Jul 27, 2020
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, including a deduction for net operating losses, which may be carried back for 20 taxable years preceding the taxable year of the loss, as specified. The Personal Income Tax Law and the Corporation Tax Law, in conformity with federal income tax law, generally define "gross income" for purposes of computing taxable income as income from whatever source derived, except as specifically excluded, and provides various exclusions from gross income.
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Done)
Committee (Done)
Floor (Current step)
Law (Needs attention)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money in California.