Alerts7.2.24
New Restrictive California Tax Provisions Part of Recent California Budget
California law now restricts taxpayers with more than $1 million in income from claiming a California net operating loss deduction for the tax years 2024 to 2026
California has officially enacted budget legislation that includes important California state tax provisions, including for net operating losses (NOLs) and credit limitations, apportionment for deductible income, and eliminating the sales tax bad debt deduction for certain non-retailers.
Keep Up to Date in a Changing World
Do you want to receive more valuable insights directly in your inbox? Visit our subscription center and let us know what you’re interested in learning more about.
