AB 2581: Corporation income taxes.
- Session Year: 2017-2018
- House: Assembly
- Latest Version Date: 2018-02-15
The Corporation Tax Law imposes an income tax upon every corporation not subject to the corporate franchise tax at a specified rate upon its net income derived from sources within this state, except as otherwise provided.
This bill would make a nonsubstantive change to this provision.
(a)There shall be imposed upon every corporation, other than a bank, for each taxable year, a tax at the rate of 7.6 percent upon its net income derived from sources within this state on or after January 1, 1937, other than income for any period for which the corporation is subject to taxation under pursuant to Chapter 2 (commencing with Section 23101), according to or measured by its net income.
(b)For calendar or fiscal years ending after June 30, 1973, the rate of tax shall be 9 percent instead of 7.6 percent as provided by subdivision (a).
(c)For calendar or fiscal years ending after December 31, 1979, the rate of tax shall be the rate specified for those years by Section 23151.
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Date
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Status
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|---|---|
| Feb 16, 2018 | From printer. May be heard in committee March 18. |
| Feb 15, 2018 | Read first time. To print. |
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