CA AB2768

Allows a tax credit for taxable years from January 1, 2017, through December 31, 2022, for taxpayers who donate qualified food from their business to California-based charitable organizations exempt from federal income tax under Section 501(c)(3).

Defines "qualified food" as prepackaged food or food prepared for immediate human consumption, including unspoiled fruits and vegetables.

Provides a credit equal to 10 percent of the fair market value of the food donation against net tax for personal income tax and against tax for corporation tax purposes.

Prohibits taxpayers from claiming both a deduction and credit for the same donated food amounts, and requires the credit to be claimed on a timely filed original return with no carryover to future years.

Sections 17053.90 and 23690 are set to expire and be repealed on December 1, 2023.