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Pass-Through Entities California Tax Deductions

Weintraub Tobin

Part 1: The One Big Beautiful Bill Act – Tax Breaks for Tips and Overtime, Bigger SALT deduction, and a Boost to PTET Credits

Weintraub Tobin on

On July 4, 2025 the One Big Beautiful Bill Act (OBBBA) was signed into law.[1] The OBBBA made several provisions permanent from the Tax Cuts and Jobs Act (TCJA). It also made significant changes aimed to expand deductions,...more

Wilson Sonsini Goodrich & Rosati

California Senate and Assembly Budget Agreement Includes Temporary Suspension on Use of California NOLs and Limitations on Use of...

On May 10, 2024, California Governor Gavin Newsom released a revised budget for 2024-2025 that includes, among other changes, a temporary suspension on the use of net operating losses (NOLs) for businesses with California...more

Allen Barron, Inc.

California and IRS Extended Income Tax Deadlines are Rapidly Approaching

Allen Barron, Inc. on

The California and IRS extended income tax deadlines are rapidly approaching as we near the deadline in mid-October.  In the first few months of 2023 California and the IRS extended income tax deadlines and associated...more

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