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CA AB1677

Bill

Official Source

Status

Passed

9/30/2012

Primary Sponsor

Martin Garrick

Click for details

Origin

State Assembly

2011-2012 Session

AI Summary

  • Increases the gross receipts threshold for tax-exempt organizations to be exempted from annual filing requirements from $25,000 to $50,000
  • Organizations with gross receipts normally not exceeding $50,000 are no longer required to file annual information returns with the Franchise Tax Board
  • Amendment applies to taxable years beginning on or after January 1, 2012
  • Maintains filing requirements for churches, private foundations, and organizations with higher gross receipts
  • Signed into law on September 30, 2012

Legislative Description

Corporation taxes: filing requirements: tax-exempt

Last Action

Chaptered by Secretary of State - Chapter 858, Statutes of 2012.

9/30/2012

Committee Referrals

Appropriations6/20/2012
Rules4/26/2012
Appropriations4/10/2012
Revenue and Taxation2/23/2012

Full Bill Text

No bill text available