Tag: Net Operating Loss
CalTax Files Suit Challenging State’s Retroactive Tax Increase
The California Taxpayers Association (CalTax) filed suit last month to challenge a retroactive tax increase, claiming it infringes on the rights of businesses operating...
Analysis: May Budget Revision Released
Governor Newsom announced his strategy to address an estimated $27.6 billion deficit for the upcoming budget year, and a $28.4 billion projected deficit for...
CalChamber-Led Effort Results in Small Business COVID-19 Relief
An effort led by the California Chamber of Commerce with the support of a large coalition of allied groups has resulted in passage of...
COVID Paid Sick Leave, Tax Credit Package Moving
The Legislature will take its first actions on Governor Gavin Newsom’s proposed 2022 budget and policy proposals this week and next, after negotiating a...
Finance Director Says Budget Windfall Gives State Opportunity to Invest in Future
California’s revenues and economic conditions have continued to improve, enabling the state to address some of its greatest threats, such as climate change, the...
State Leaders Should Use Budget Surplus to Restore Tax Incentives, Repay UI Debt
Only 18 months ago, expecting a massive pandemic-induced collapse of economic activity, California finance officials predicted a staggering $54 billion state budget deficit. The...
Business Groups Urge: Restore Tax Credits, Net Operating Loss Deduction
The California Chamber of Commerce and a coalition of business groups are urging state legislators to restore the net operating loss deduction and business...
Legislature Passes Budget, Clearing Way for Real Negotiations
The Legislature fulfilled its constitutional obligation this week by approving a state budget just ahead of the June 15 deadline. But meeting the formal...
Legislators Urge End to Business Tax Increase
A bipartisan group of 25 California legislators led by Assemblymember Evan Low (D-Campbell) is urging Assembly Budget leadership to immediately end a tax increase...
