Bill Text: CA AB2205 | 2017-2018 | Regular Session | Amended
Bill Title: Personal income taxes: deductions: transportation improvement fee.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2018-03-19 - Re-referred to Com. on TRANS. [AB2205 Detail]
Download: California-2017-AB2205-Amended.html
|
Amended
IN
Assembly
March 15, 2018 |
| Assembly Bill | No. 2205 |
| Introduced by Assembly Member Brough |
February 12, 2018 |
LEGISLATIVE COUNSEL'S DIGEST
The Personal Income Tax Law, in modified conformity with federal income tax law, authorizes a taxpayer to depreciate property, determined by an applicable depreciation method, an applicable recovery period, and an applicable convention.
This bill would make nonsubstantive changes to this provision.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 17201.1 is added to the Revenue and Taxation Code, to read:17201.1.
To the extent that the transportation improvement fee imposed by Chapter 6 (commencing with Section 11050) of Part 5 is a personal property tax, as defined in Section 164(b)(1) of the Internal Revenue Code, relating to personal property taxes, it is deductible pursuant to subdivision (a) of Section 17201 in the same manner as the vehicle licensee fee imposed by Chapter 2 (commencing with Section 10751) of Part 5.(a)Section 168 of the Internal Revenue Code, relating to accelerated cost recovery system, is modified as follows:
(1)Any reference to “tax imposed by this chapter” in Section 168 of the Internal Revenue Code, relating to accelerated cost recovery system, means “net tax,” as defined in Section 17039.
(2)(A)Section 168(e)(3)
of the Internal Revenue Code, relating to classification of certain property, is modified to provide that any grapevine, replaced in a vineyard in California in any taxable year beginning on or after January 1, 1992, as a direct result of a phylloxera infestation in that vineyard, or replaced in a vineyard in California in any taxable year beginning on or after January 1, 1997, as a direct result of Pierce’s disease in that vineyard, shall be “five-year property,” rather than “10-year property.”
(B)Section 168(g)(3) of the Internal Revenue Code, relating to special rules for determining class life, is modified to
provide that any grapevine, replaced in a vineyard in California in any taxable year beginning on or after January 1, 1992, as a direct result of a phylloxera infestation in that vineyard, or replaced in a vineyard in California in any taxable year beginning on or after January 1, 1997, as a direct result of Pierce’s disease in that vineyard, shall have a class life of 10 years.
(C)Every taxpayer claiming a depreciation deduction with respect to grapevines as described in this paragraph shall obtain a written certification from an independent state-certified integrated pest management adviser, or a state agricultural commissioner or adviser, that specifies that the replanting was necessary to restore a vineyard infested with phylloxera or Pierce’s disease. The taxpayer shall retain the certification for future audit purposes.
(3)Section 168(j) of the Internal Revenue Code,
relating to property on Indian reservations, shall not apply.
(4)Section 168(k) of the Internal Revenue Code, relating to special allowance for certain property acquired after December 31, 2007, and before January 1, 2009, shall not apply.
(5)Sections 168(b)(3)(G) and 168(b)(3)(H) of the Internal Revenue Code shall not apply.
(6)Sections 168(e)(3)(E)(iv), 168(e)(3)(E)(v), and 168(e)(3)(E)(ix) of the Internal Revenue Code shall not apply.
(7)Sections 168(e)(6), 168(e)(7), and 168(e)(8) of the Internal Revenue Code, relating to qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property, respectively, shall not apply.
(8)Section
168(l) of the Internal Revenue Code, relating to special allowance for cellulosic biofuel plant property, shall not apply.
(9)Section 168(m) of the Internal Revenue Code, relating to special allowance for certain reuse and recycling property, shall not apply.
(10)Section 168(n) of the Internal Revenue Code, relating to special allowance for qualified disaster assistance property, shall not apply.
(11)Section 168(i)(15)(D) of the Internal Revenue Code, relating to termination, is modified by substituting the phrase “December 31, 2007” for the phrase “December 31, 2009.”
(12)Section 168(e)(3)(B)(vii) of the Internal Revenue Code shall not apply.
(b)Section 169 of the Internal Revenue
Code, relating to amortization of pollution control facilities, is modified as follows:
(1)The deduction allowed by Section 169 of the Internal Revenue Code, relating to amortization of pollution control facilities, shall be allowed only with respect to facilities located in this state.
(2)The “state certifying authority,” as defined in Section 169(d)(2) of the Internal Revenue Code, means the State Air Resources Board, in the case of air pollution, and the State Water Resources Control Board, in the case of water pollution.
