Julia Brownley voted Yea (Concurrence Vote) on this Legislation.
Title: Suspending Carryback and Net Operating Loss Deductions
Signed by Governor Arnold Schwarzenegger
Title: Suspending Carryback and Net Operating Loss Deductions
Vote to concur with Senate amendments and pass a bill that, in addition to other amendments to the tax code, adjusts carryback and net operating loss provisions for taxpayers and exempts all taxpayers with incomes subject to tax less than $500,000 for the taxable year from those provisions, in order to finance the 2008-2009 budget.
- Suspends net operating loss carrybacks until January 1, 2011, and sets the allowable amount of carryback for the net operating loss attributable to taxable years thereafter as follows (Sec. 2-3):
NOTE: AN URGENCY CLAUSE REQUIRES A 2/3 MAJORITY VOTE FOR PASSAGE IN THE HOUSE AND IMMEDIATELY PUTS THE BILL INTO EFFECT UPON THE GOVERNOR'S SIGNATURE.
Title: Suspending Carryback and Net Operating Loss Deductions
Vote to pass a bill that, in addition to other amendments to the tax code, adjusts carryback and net operating loss provisions for taxpayers and exempts all taxpayers with incomes subject to tax less than $500,000 for the taxable year from those provisions, in order to finance the 2008-2009 budget.
- Suspends net operating loss carrybacks until January 1, 2011, and sets the allowable amount of carryback for the net operating loss attributable to taxable years thereafter as follows (Sec. 2-3):
NOTE: AN URGENCY CLAUSE REQUIRES 27 VOTES FOR PASSAGE IN THE SENATE AND IMMEDIATELY PUTS THE BILL INTO EFFECT UPON THE GOVERNOR'S SIGNATURE.
Title: Suspending Carryback and Net Operating Loss Deductions