OnPoint: Key California Tax Changes

California’s recent tax law changes will significantly impact businesses operating in California, with major amendments to income and sales and use taxes. 

A key change shifts corporate tax calculations from gross receipts to net income, potentially increasing tax liabilities for many companies operating in the state.

In this comprehensive report, you’ll discover:

• How the codification of net income apportionment will impact your business and the ongoing litigation around it.
• The mechanics behind the net operating loss suspension and the new tax credit cap.
• Fundamental changes to the sales and use tax bad debt deduction.

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