California law does not conform to the following federal provisions under the CARES Act: California taxpayers continue to follow the IRC as of the specified date of January 1, 2015, with modifications. In general, California R&TC does not conform to the changes.
See specific line instructions for more information.Ĭoronavirus Aid, Relief, and Economic Security (CARES) Act – The federal CARES Act was enacted on March 27, 2020. California law does not conform to the federal provision under the SECURE Act for the expansion of IRC Section 529 qualified tuition program accounts to cover costs associated with registered apprenticeship and qualified education loan repayments.
Ccsd translate pro code#
California taxpayers continue to follow the Internal Revenue Code (IRC) as of the specified date of January 1, 2015, with modifications.
In general, California Revenue and Taxation Code (R&TC) does not conform to the changes.
Setting Every Community Up for Retirement Enhancement (SECURE) Act – The SECURE Act was enacted on December 20, 2019. For more information, see Schedule CA (540) specific line instructions in Part I, Section B, line 3, or R&TC Section 17158.3. "Ineligible entity" means a taxpayer that is either a publicly-traded company or does not meet the 25% reduction from gross receipts requirements under Section 311 of Division N of the CAA, 2021. For California purposes, these deductions do not apply to an ineligible entity. California law conforms to this federal provision, with modifications. The CAA, 2021, allows deductions for eligible expenses paid for with grant amounts. Shuttered Venue Operator Grant – For taxable years beginning on or after January 1, 2019, California law allows an exclusion from gross income for amounts awarded as a shuttered venue operator grant under the CAA, 2021. For more information, see Schedule CA (540) specific line instructions in Part I, Section B, line 3 or go to ftb.ca.gov and search for AB 80. “Ineligible entity” means a taxpayer that is either a publicly-traded company or does not meet the 25% reduction from gross receipts requirements under Section 311 of the CAA, 2021. For California purposes, these deductions generally do not apply to an ineligible entity. The CAA, 2021, allows deductions for eligible expenses paid for with covered loan amounts. Other Loan Forgiveness – For taxable years beginning on or after January 1, 2019, California law allows an exclusion from gross income for borrowers of forgiveness of indebtedness described in Section 1109(d)(2)(D) of the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act as stated by section 278, Division N of the federal Consolidated Appropriations Act (CAA), 2021. For more information, see Schedule CA (540) specific line instructions in Part I, Section B, line 8f. For more information, see California Revenue and Taxation Code (R&TC) Section 17158 and Schedule CA (540) specific line instructions in Part I, Section B, line 8f.Ĭalifornia Microbusiness COVID-19 Relief Grant – For taxable years beginning on or after January 1, 2020, and before January 1, 2023, California law allows an exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Microbusiness COVID-19 Relief Program that is administered by CalOSBA. What’s NewĬalifornia Venues Grant – For taxable years beginning on or after September 1, 2020, and before January 1, 2030, California law allows an exclusion from gross income for grant allocations received by a taxpayer pursuant to the California Venues Grant Program that is administered by the Office of Small Business Advocate (CalOSBA). References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2015, and the California Revenue and Taxation Code (R&TC).