Posted

California 1999 State and Local Tax: Important Developments

Legislation: Income and Franchise Taxation
1999 Cal. Stat. ch. 64, amending Cal. Rev. & Tax. Code section 23153, amending and repealing Cal. Rev. & Tax. Code section 23221, adding Cal. Rev. & Tax. Code 23221, exempts every corporation that incorporates or qualifies to do business in California on or after January 1, 2000, from the minimum franchise tax for the second taxable year and the minimum franchise tax for the second taxable year.

(The remainder of this article can be accessed in the 2000 edition of the ABA’s State and Local Tax Lawyer.)

Contact Information