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CA SBX67
Bill
AI Summary
- Establishes a hiring credit for both personal income tax and corporate tax purposes for taxable years beginning January 1, 2010 or later
- Allows qualified taxpayers to claim 25% of wages paid to qualified veterans, capped at $6,000 per veteran per year
- Defines qualified veterans as honorably discharged Armed Forces members from the preceding five years who received California unemployment compensation for at least four weeks and work at least 120 hours for the employer
- Requires qualified taxpayers to have a California business location or conduct business primarily in California or with Californians
- Allows unused credits to carry forward to subsequent tax years until fully exhausted, with wage deductions reduced by the credit amount claimed
Legislative Description
Income taxes: hiring credit: veterans.
Last Action
Placed on REV. & TAX. suspense file.
5/13/2010
Committee Referrals
Revenue and Taxation4/19/2010
Rules2/24/2010
Full Bill Text
No bill text available