Bill Text: CA SB1501 | 2023-2024 | Regular Session | Introduced

California Senate Bill 1501

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

Bill Title: Small Business Relief Act: elective tax.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Engrossed) 2024-08-15 - August 15 hearing: Held in committee and under submission. [SB1501 Detail]

Download: California-2023-SB1501-Introduced.html

CALIFORNIA LEGISLATURE— 2023–2024 REGULAR SESSION

Senate Bill

No. 1501

Introduced by Senator Glazer

February 16, 2024

An act to amend Section 23002 of the Revenue and Taxation Code, relating to taxation.

LEGISLATIVE COUNSEL'S DIGEST

SB 1501, as introduced, Glazer. Corporation taxes.

The Corporation Tax Law specifies that its provisions are applicable to the corporation franchise tax, the alternative minimum tax, the corporation income tax, or the predecessor acts of the Corporation Tax Law.

This bill would make nonsubstantive changes to that provision.

Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NO

The people of the State of California do enact as follows:

SECTION 1.

Section 23002 of the Revenue and Taxation Code is amended to read:

23002.

Except where otherwise expressly provided, all ~~of the~~ provisions of this part are applicable to the taxes imposed respectively under Chapter 2 (commencing with Section 23101), Chapter 2.5 (commencing with Section 23400), or Chapter 3 (commencing with Section 23501), or to the predecessor acts of this part, the Bank and Corporation Franchise Tax ~~Act~~ Act, or the Corporation Income Tax Act, respectively.