Income tax credits: research and development: California Competes Tax Credit: sales and use taxes: refund.
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
- Mar 12, 2020
What it does
The Personal Income Tax Law and the Corporation Tax Law allows various credits against the taxes imposed by those laws, including (1) in modified conformity to a credit allowed by federal income tax laws, a credit under both laws in an amount equal to 15% of the excess of qualified research expenses for the taxable year over the base amount, as defined, and, for purposes of the Corporation Tax Law, 24% of the basic research payments, as defined, (research and development income tax credit) and (2) a credit against the taxes imposed under those laws for each taxable year beginning on and after January 1, 2014, and before January 1, 2030, in an amount provided in a written agreement between…
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
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Where it goes next
While a bill can still move, the questions are about people and money in California.