The Arizona Court of Appeals held that an investment tax credit (ITC) deferred as a tax asset has “value” and therefore is properly excluded from the taxable original cost of renewable energy equipment for Arizona property...more
California’s Existing Partial Exemption for Statewide Sales and Use Tax Paid on Qualified Tangible Personal PropertyRTC section 6377.1 exempts from certain state sales and use taxes the sale of, and the storage, use or other...more
6/2/2023
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Tax Credits
The legislation suspends California net operating loss deductions for tax years beginning in 2020, 2021 and 2022.
It limits California tax credits to $5 million for each taxpayer for the same tax years....more