- Stage
- Became law
- Started in
- Senate
- Sponsors
- 2
- Latest action
- Sep 1, 2015
What it does
The Personal Income Tax Law and the Corporation Tax Law provide for a deduction of specified losses sustained as a result of disasters occurring in California in an area determined by the President of the United States to warrant specified federal assistance or, for other disasters for which a specific law has been enacted, proclaimed by the Governor to be in a state of emergency. Those laws allow a taxpayer to elect to deduct those disaster losses on the return for the taxable year preceding the taxable year in which the disaster occurred, filed by a specified date. Existing law also allows individual and corporate taxpayers to utilize net operating losses and carryovers and carrybacks of…
Where it stands
This bill passed and is now law.
Introduced (Done)
Committee (Done)
Floor (Done)
Law (Done)
What moved
Who is involved
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Where it goes next
Once a bill is decided, the questions are about what is done with it in California.