News & Analysis as of

Tax Reform › California › New Legislation

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

Pillsbury - SeeSalt Blog

California Legislature Advances Broad Federal Tax Conformity Bill (SB 711)

Pillsbury - SeeSalt Blog on

Senate Bill 711 (S.B. 711) would update California’s conformity date to the Internal Revenue Code (IRC) from January 1, 2015, to January 1, 2025. If enacted, this change would apply to taxable years beginning on or after...more

Wilson Sonsini Goodrich & Rosati

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

Wilson Sonsini Goodrich & Rosati on

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

Wilson Sonsini Goodrich & Rosati

California Lifts Suspension of the Use of NOLs

Wilson Sonsini Goodrich & Rosati on

In June 2020, California lawmakers passed legislation that limited use of net operating losses (NOLs) for California taxpayers with net business income of $1 million or more for the tax years 2020, 2021, and 2022. In...more

4 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide