CA SB1449

Allows California residents a credit against state income tax for net income taxes paid to another state on income derived from sources within that state

Changes the method for determining the source of income by using the other state's apportionment and allocation rules instead of California's nonresident sourcing rules under Chapter 11

Intended to prevent California residents from being taxed on more than 100 percent of their income and to reduce the risk of impermissible burdens on interstate commerce from multiple taxation

Takes effect immediately as a tax levy