Personal Income Tax Law: net operating loss.
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
- Assembly
- Sponsor
- 1
- Latest action
- May 5, 2020
What it does
The Personal Income Tax Law and the Corporation Tax Law, in modified conformity with federal income tax laws, allow various deductions in computing the income that is subject to the taxes imposed by those laws, including a deduction for a net operating loss, as specified. Existing law, the federal Coronavirus Aid, Relief, and Economic Security Act (CARES Act) , among other things, authorizes, with respect to a taxable year beginning on or after January 1, 2018, and before January 1, 2021, a net operating loss carryback to each of the 5 taxable years preceding the taxable year of that loss.
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 (Current step)
Floor (Needs attention)
Law (Not started)
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.
Loading coverage…
Where it goes next
While a bill can still move, the questions are about people and money in California.