California 2013-2014 Regular Session Status: In Committee

AB 2495 — Minimum franchise tax: annual tax: exemption.

Last action — From committee without further action.

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  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 2013-2014 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 an annual tax in an amount equal to the minimum franchise tax on every limited partnership, limited liability partnership, and limited liability company registered, qualified to transact business, or doing business in this state, as specified. Existing law exempts a corporation from payment of minimum franchise tax in its first taxable year. This bill would exempt from the minimum franchise tax every qualified new corporation incorporated or qualified to do business in this state on or after January 1, 2015, for its first 5 consecutive taxable years. This bill would also exempt from the annual tax every foreign or domestic limited partnership, limited liability partnership, and limited liability company that files its organizing document, or if a foreign entity its registration document, with the Secretary of State on or after January 1, 2015, as specified, for its first 5 consecutive taxable years. This bill would take effect immediately as a tax levy.

Bill Text

Action History

  1. From committee without further action.

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

  3. In committee: Set, first hearing. Referred to REV. & TAX. suspense file.

  4. Re-referred to Com. on REV. & TAX.

  5. From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.

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

  7. Read first time.

  8. From printer. May be heard in committee March 25.

  9. Introduced. To print.

Sponsors

  • Melendez · Primary

Sponsorship breakdown

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

Sponsors (1)

  • Melendez

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

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"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
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Frequently asked questions

What does AB 2495 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 an annual tax in an amount equal to the minimum franchise tax on every limited partnership, limited liability partnership, and limited liability company registered, qualified to transact business, or doing business in this state, as specified. Existing law exempts a corporation from payment of minimum franchise tax in its first taxable year. This bill would exempt from the minimum franchise tax every qualified new corporation incorporated or qualified to do business in this state on or after January 1, 2015, for its first 5 consecutive taxable years. This bill would also exempt from the annual tax every foreign or domestic limited partnership, limited liability partnership, and limited liability company that files its organizing document, or if a foreign entity its registration document, with the Secretary of State on or after January 1, 2015, as specified, for its first 5 consecutive taxable years. This bill would take effect immediately as a tax levy.
Who sponsors AB 2495?
AB 2495 is sponsored by Melendez.
What is the current status of AB 2495?
This bill died with 2013-2014 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 2495?
Track AB 2495 free on One Click Politics — get push/email alerts when it moves.

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