Personal Income Tax Law: Small Business Relief Act: elective tax.
- Stage
- Session ended
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Aug 15, 2024
What it does
Existing law, known as the Small Business Relief Act, for taxable years beginning on or after January 1, 2021, and before January 1, 2026, authorizes a partnership or "S" corporation that meets certain other requirements to elect to pay an elective tax at a rate based on its net income, as specified, for the taxable year. Existing law repeals the act on December 1, 2026, or makes it inoperative and repeals the act on an earlier date if a specified federal law is repealed.
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)
Sponsors
Connections
Its sponsors, who gave them money, and who lobbied on it. A gift is not a position on the bill.
The record
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