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SB 10

  • California Senate Bill
  • 2009-2010, 6th Special Session
  • Introduced in Senate Feb 24, 2010
  • Senate
  • Assembly
  • Governor

Income and corporation taxes: net capital gains: exclusion.

Abstract

The Personal Income Tax Law and the Corporation Tax Law provide that gain or loss upon the disposition of a capital asset is determined by reference to the adjusted basis of that asset. This bill would, for taxable years beginning on or after January 1, 2013, and before January 1, 2016, provide that gross income does not include 50% of any net capital gain, as defined, from the sale or exchange of a capital asset, as defined, that is held for more than 3 years, as specified. This bill would take effect immediately as a tax levy.

Bill Sponsors (2)

Robert Dutton

  • Republican
Author

Mimi Walters

  • Republican
Coauthor

Votes


No votes to display

Actions


Oct 08, 2010

Senate

From committee without further action.

May 13, 2010

Senate

Placed on REV. & TAX. suspense file.

May 05, 2010

Senate

From committee with author's amendments. Read second time. Amended. Re-referred to Com. on REV. & TAX.

  • Reading-1
  • Referral-Committee
  • Reading-2
  • Committee-Passage
Com. on REV. & TAX.

Apr 30, 2010

Senate

Set for hearing May 12.

Apr 19, 2010

Senate

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

  • Referral-Committee
Com. on REV. & TAX.

Feb 24, 2010

Senate

Introduced. Read first time. To Com. on RLS.

Bill Text

Bill Text Versions Format
SB10 HTML
02/24/10 - Introduced PDF
05/05/10 - Amended Senate PDF

Related Documents

Document Format
No related documents.

Sources

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