California 2019-2020 Regular Session Status: In Committee 1 D cosponsors

AB 364 — Annual tax: exemption.

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

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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 2019-2020 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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 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 on every limited partnership and limited liability company qualified to transact business or doing business in this state, as specified. Existing law exempts a corporation that incorporates or qualifies to do business in this state from the payment of the minimum franchise tax in its first taxable year. This bill would, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, exempt a limited partnership that is a new limited partnership and a limited liability company that is a new limited liability company and is a small business in its first year from payment of the annual tax for its first taxable year. This bill would take effect immediately as a tax levy.

Bill Text

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

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

  5. In committee: Hearing for testimony only.

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

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

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

  9. 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
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Frequently asked questions

What does AB 364 do?
Existing law 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 on every limited partnership and limited liability company qualified to transact business or doing business in this state, as specified. Existing law exempts a corporation that incorporates or qualifies to do business in this state from the payment of the minimum franchise tax in its first taxable year. This bill would, for taxable years beginning on or after January 1, 2020, and before January 1, 2025, exempt a limited partnership that is a new limited partnership and a limited liability company that is a new limited liability company and is a small business in its first year from payment of the annual tax for its first taxable year. This bill would take effect immediately as a tax levy.
Who sponsors AB 364?
AB 364 is sponsored by Calderon, Lisa (Democratic).
What is the current status of AB 364?
This bill died with 2019-2020 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 364?
Track AB 364 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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