California 2017-2018 Regular Session Status: In Committee 1 D cosponsors

AB 2510 — Limited liability companies: annual tax: microbusinesses.

Last action — In committee: Hearing postponed by committee.

  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 2017-2018 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 imposes an annual tax in an amount equal to the minimum franchise tax, which is $800, on every limited liability company that is doing business in this state. Existing law also exempts, until taxable years beginning on or after January 1, 2018, a limited liability company that is a small business solely owned by a deployed member of the United States Armed Forces from paying the annual tax for any taxable year the owner is deployed and the limited liability company operates at a loss or ceases operation. This bill would reduce to $100 the annual tax for microbusinesses, as defined, and would extend indefinitely the exemption for a limited liability company that is a small business solely owned by a deployed member of the United States Armed Forces. This bill would take effect immediately as a tax levy.

Bill Text

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1 line(s) added, 1 removed.

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Action History

  1. In committee: Hearing postponed by committee.

  2. In committee: Hearing postponed by committee.

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

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

  5. Read first time. To print.

Sponsors

Sponsorship breakdown

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

Sponsors (1)

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 veterans
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Frequently asked questions

What does AB 2510 do?
Existing law imposes an annual tax in an amount equal to the minimum franchise tax, which is $800, on every limited liability company that is doing business in this state. Existing law also exempts, until taxable years beginning on or after January 1, 2018, a limited liability company that is a small business solely owned by a deployed member of the United States Armed Forces from paying the annual tax for any taxable year the owner is deployed and the limited liability company operates at a loss or ceases operation. This bill would reduce to $100 the annual tax for microbusinesses, as defined, and would extend indefinitely the exemption for a limited liability company that is a small business solely owned by a deployed member of the United States Armed Forces. This bill would take effect immediately as a tax levy.
Who sponsors AB 2510?
AB 2510 is sponsored by Muratsuchi, Al (Democratic).
What is the current status of AB 2510?
This bill died with 2017-2018 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 2510?
Track AB 2510 free on One Click Politics — get push/email alerts when it moves.

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