Client Memo – CA NOLs Suspended Again
Under the California state tax law, individual and corporate taxpayers can carry a net operating loss (NOL) from one year into future years to reduce taxable income. The state had suspended the deduction of NOLs for tax years 2008 and 2009. On October 8, 2010, the Governor signed the state’s Budget Act of 2010 (the […]
Client Memo – Small Business Jobs Bill
The Small Business Jobs Act, as approved by the Senate on September 16, cleared the House last Thursday morning and has been signed into law by the President yesterday. This bill provides an estimated $12 billion in tax breaks for small businesses and individuals and creates a new $30 billion Small Business Lending Fund to […]
