AB 831: Personal income and corporation taxes: credits: compliance.

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws.

This bill would allow a credit against those taxes for each taxable year beginning on or after January 1, 2017, for qualified small businesses, microbusinesses, as defined, for costs paid or incurred during the taxable year with regard to compliance with state laws and regulations in an amount equal to $25 for each person-hour spent on compliance with state regulations and laws, or $5,000, not to exceed $1,200, or $1,200, as provided.

This bill would take effect immediately as a tax levy.