CA AB1143

Revises property tax law to exclude sales occurring more than 90 days after the valuation date when determining comparable property values.

Updates the Franchise Tax Board's business entity classification regulations to reference federal regulations as in effect May 1, 2014, instead of January 1, 1997, while requiring state and federal classifications to match for eligible business entities.

Extends contract voidability consequences to foreign nonregistered limited liability companies that are suspended or forfeited for failure to file tax returns or pay delinquent taxes, penalties, or interest.

Applies the contract voidability rules to limited liability companies beginning January 1, 2014, with an applicable period ending when the company qualifies to do business in California or obtains a Franchise Tax Board account number.

Takes effect immediately as an urgency statute to ensure equal treatment of all entities doing business in California and update necessary federal law references.