CA AB2496

Allows a tax credit for taxable years beginning January 1, 2020 through December 31, 2020 for businesses with physical locations in California that purchase cleaning and sanitizing supplies to prevent COVID-19 transmission.

Credit applies to both personal income tax (under Section 17053.2) and corporation tax (under Section 23664) and equals the actual costs paid or incurred for qualifying cleaning and sanitizing supplies.

Reduces any other deductions otherwise allowed for amounts on which the credit is based to prevent double benefits.

Allows unused credits to be carried forward for up to seven succeeding years until fully exhausted.

Requires the Franchise Tax Board to produce a report to the Legislature on the use of these tax expenditures; both sections expire December 1, 2021, though unused credits may continue to be carried forward.