Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing business in California that claims a business tax incentive, as provided, to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state. The bill would also require, in cases in which a taxpayer has a disqualifying event resulting in a net decrease in the number of full-time employees for a business tax incentive added by statute on or after January 1, 2011, the business tax incentive to be recaptured, and the taxable amount computed in accordance with specified procedures. »Less
Income taxes: business tax incentives: reporting information and recapture.
An act to add Sections 17060 and 23603 to the Revenue and Taxation Code, relating to taxation.
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing business in California that claims a business tax incentive, as provided, to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state. The bill would also require, in cases in which a taxpayer has a disqualifying event resulting in a net decrease in the number of full-time employees for a business tax incentive added by statute on or after January 1, 2011, the business tax incentive to be recaptured, and the taxable amount computed in accordance with specified procedures. »Less
Income taxes: business tax incentives: reporting information and recapture.
An act to add Sections 17060 and 23603 to the Revenue and Taxation Code, relating to taxation .
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits, deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer, as described, doing business in California that claims a business tax incentive, as provided, to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state. The bill would also require, in cases in which a taxpayer has a disqualifying event resulting in a net decrease in the number of full-time employees for a business tax incentive added by statute on or after January 1, 2011, the business tax incentive to be recaptured, and the taxable amount computed in accordance with specified procedures . »Less
Aug. 16, 2010
From committee: Do pass as amended. (Ayes 12. Noes 5.)
Income taxes: business tax incentives: reporting information and recapture.
An act to add Sections 17060 and 23603 to the Revenue and Taxation Code, relating to taxation, to take effect immediately, tax levy.
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits , deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer , as described, ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits , deductions, exclusions, exemptions, and other tax benefits with respect to the taxes imposed by those laws. This bill would require a taxpayer , as described, doing business in California that claims a business tax incentive, as provided, to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state . The bill would also require, in cases in which a taxpayer has a net decrease in the number of full-time employees for a business tax incentive added by statute on or after January 1, 2011, the business tax incentive to be disallowed and the entire amount of any business tax incentives previously allowed to be recaptured or the tax liability to be recomputed and the taxpayer to be liable for any credits on previous tax returns, as specified. This bill would take effect immediately as a tax levy. »Less
Tax credits: reporting information and recapture.
An act to add Sections 17060 and 23603 to the Revenue and Taxation Code, relating to taxation , to take effect immediately, tax levy.
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill would require a taxpayer doing business in California that claims a tax credit to submit to the Franchise Tax Board ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill would require a taxpayer doing business in California that claims a tax credit to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state and the number of jobs created by the tax credit. The bill would also require, in cases in which a taxpayer has a net decrease in the number of full-time employees for a credit added by statute on or after January 1, 2011, the credit tobe disallowed and the entire amount of any credit previously allowed to be recaptured and the taxpayer to be liable for any credits on previous tax returns, as specified. This bill would take effect immediately as a taxlevy. »Less
May 18, 2010
From committee: Do pass as amended, but first amend, and re-refer to Com. on APPR. (Ayes 3. Noes 1. Page 3548.)
Tax credits: reporting information and recapture.
An act to to add Sections 17060 and 23603 to the Revenue and Taxation Code, relating to taxation to take effect immediately, tax levy .
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill would require a taxpayer doing business in California that claims a tax credit to submit to the Franchise Tax Board ... »More
Digest: The Personal Income Tax Law and the Corporation Tax Law authorize various credits against the taxes imposed by those laws. This bill would require a taxpayer doing business in California that claims a tax credit to submit to the Franchise Tax Board on the original return specified information, including the number of employees employed by the taxpayer in the state, the amount of tax credits claimed by the taxpayer on the return, and the number of jobs created by the tax credit. The bill would also require, in cases in which a taxpayer subject to the above provisions has a net decrease in the number of full-time employees for a credit added by statute on or after January 1, 2011, the credit to be disallowed and the entire amount of any credit previously allowed to be recaptured andthe taxpayer to be liable for any credits on previous tax returns, as specified. This bill would result in a change in state taxes for the purpose of increasing state revenues within the meaning of Section 3 of Article XIII A of the California Constitution, and thus would require for passage the approval of 2 3 of the membership of each house of the Legislature. This bill would take effect immediately as a tax levy. »Less
March 11, 2010
To Com. on RLS.
Feb. 20, 2010
From print. May be acted upon on or after March 22.
Feb. 19, 2010
Introduced. Read first time. To Com. on RLS. for assignment. To print.
Digest: The Personal Income Tax Law imposes taxes on taxable income and provides, among other things, that specified definitions govern the construction of that law. This bill would make a technical, nonsubstantive change to those provisions. »More
Digest: The Personal Income Tax Law imposes taxes on taxable income and provides, among other things, that specified definitions govern the construction of that law. This bill would make a technical, nonsubstantive change to those provisions. »Less
Headlines 1 - 6 (of 6):
How Blakeslee has voted so far Bakersfield Californian, Sept. 3, 2010
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How Blakeslee has voted so far San Luis Obispo Tribune, Sept. 2, 2010
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Capitol Digest: Three bills attacking state tax loopholes are headed to Schwarzenegger's desk Sacramento Bee, Aug. 26, 2010
Capitol Digest: Three bills attacking state tax loopholes are headed to Schwarzenegger's desk - Sacramento Politics - California Politics | Sacramento Bee var insitecookie = 'sacbee_user_auth' var mi = { "media_domain" : "http: } var thisArticleId = "2983635"; var thisArticleUrl = "/2010/08/26/2983635/three-bills-attacking-state-tax.html"; var thisArticleTitle = "Capitol Digest: Three ...
Three anti-tax loophole bills gain legislative approval Sacramento Bee - Capitol Alert, Aug. 25, 2010
... claiming any new state tax break to report on how many new jobs the loophole created. The measure, SB 1391, needs a final Senate vote to reach Schwarzenegger. Business groups and Republicans contend that cracking down on tax breaks will discourage job-creating investment. The deb ...
Viewpoints: Shine light on corporate tax breaks Sacramento Bee - Opinion, Aug. 21, 2010
... lly for effectiveness. Also would require a seven-year sunset on all future tax expenditures.• SB 1391 (Leland Yee, D-San Francisco): Would allow the state to "claw back" or recapture a future tax expenditure that has the goal of job creation if the company claiming the expend ...
Version: Amended Assembly
Bill language:
