RogerRossmeisl

SEPTEMBER 26, 2021

California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Small Business Tax Credit. The credits are reserved on a first-come, first-served basis.

Maine 230

Maine California business tax Tax 230

RogerRossmeisl

AUGUST 15, 2021

On 7/16/2021, Governor Newsom signed into law AB-150, which provides a means by which certain pass-through entities (Qualified Entities) can make an election to pay California income tax (at the entity-level) on behalf of their owners, for which their consent must be given. Curiously the IRS has approved.

California 246

California income tax CPA Tax 246

RogerRossmeisl

NOVEMBER 17, 2020

The California Legislature passed, and the governor signed, Senate Bill 1447 (click here for FTB Bill Analysis) into law creating a new small business hiring credit (SBHC) for small businesses impacted by economic disturbances in 2020. The Small Business Hiring Credit is also referred to as the “Main Street Hiring Credit”.

California 162

California income tax CPA Maine 162

RogerRossmeisl

MARCH 28, 2022

But before explaining those rules, be assured you that when you are taxed on undistributed income, you won’t be taxed again if and when the income ultimately is paid to you. Unlike a regular or C corporation, an S corporation generally isn’t subject to income tax (California does charge a 1.5%

income tax 246

income tax CPA California Tax 246