California 2011-2012 Regular Session Status: In Committee

AB 368 — Minimum annual tax: exemptions.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Assembly
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Existing law, generally, imposes a minimum franchise tax of $800, except as provided, on every corporation incorporated in this state, qualified to transact intrastate business in this state, or doing business in this state, and on every limited partnership, limited liability partnership, and limited liability company registered, qualified to transact business, or doing business in this state, as specified. This bill would, for the first 6 taxable years of a corporation, limited partnership, limited liability partnership, and limited liability company that is a small business, as defined, and that first commences business operations on or after January 1, 2012, and before January 1, 2018, reduce that minimum tax, as provided.This bill would take effect immediately as a tax levy.

Bill Text

What changed in the latest version

1 added · 1 removed

1 line(s) added, 1 removed.

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Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. In committee: Set, second hearing. Held under submission.

  4. In committee: Set, second hearing. Referred to REV. & TAX. suspense file.

  5. In committee: Set, first hearing. Hearing canceled at the request of author.

  6. Referred to Com. on REV. & TAX.

  7. From printer. May be heard in committee March 17.

  8. Read first time. To print.

Sponsors

  • Morrell · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Morrell

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does AB 368 do?
Existing law, generally, imposes a minimum franchise tax of $800, except as provided, on every corporation incorporated in this state, qualified to transact intrastate business in this state, or doing business in this state, and on every limited partnership, limited liability partnership, and limited liability company registered, qualified to transact business, or doing business in this state, as specified. This bill would, for the first 6 taxable years of a corporation, limited partnership, limited liability partnership, and limited liability company that is a small business, as defined, and that first commences business operations on or after January 1, 2012, and before January 1, 2018, reduce that minimum tax, as provided.This bill would take effect immediately as a tax levy.
Who sponsors AB 368?
AB 368 is sponsored by Morrell.
What is the current status of AB 368?
This bill died with 2011-2012 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track AB 368?
Track AB 368 free on One Click Politics — get push/email alerts when it moves.

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