CA SB1508

Expands the definition of "qualified entity" eligible for voluntary disclosure agreements to include foreign limited liability partnerships and foreign limited partnerships, in addition to existing foreign corporations and foreign limited liability companies.

Allows foreign entities that have qualified or registered with the Secretary of State within 6 months of filing a voluntary disclosure agreement application to be considered qualified entities for tax purposes.

Changes the reference point for the 6-month qualification period from the "signing date of the voluntary disclosure agreement" to the "date the application for a voluntary disclosure agreement is filed with the Franchise Tax Board."

Removes the previous requirement to exclude tax liability for the period that a foreign entity was qualified or registered in California from the voluntary disclosure agreement.

Makes amendments applicable to voluntary disclosure agreements entered into on or after January 1, 2019.