Bill Text: CA AB990 | 2013-2014 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Income taxes: minimum franchise tax.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2014-02-03 - From committee: Filed with the Chief Clerk pursuant to Joint Rule 56. [AB990 Detail]

Download: California-2013-AB990-Introduced.html

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BILL NUMBER: AB 990	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Conway

                        FEBRUARY 22, 2013

   An act to amend Section 23040 of the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 990, as introduced, Conway. Income taxes: corporate.
   The Corporation Tax Law provides that income derived from or
attributable to sources within this State includes income from
specified types of property.
   This bill would make technical, nonsubstantive changes to that
provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 23040 of the Revenue and Taxation Code is
amended to read:
   23040.  Income derived from or attributable to sources within this
 State   state  includes income from
tangible or intangible property located or having a situs in this
 State   state  and income from any
activities carried on in this  State   state
 , regardless of whether carried on in intrastate, interstate
 ,  or foreign commerce.