California Revenue and Taxation Code

§ 17052

RTC § 17052 Effective Jan 1, 2023Div. 2 · Part 10 · Ch. 2

Statute text

(a)(1) For each taxable year beginning on or after January 1, 2015, there shall be allowed against the “net tax,” as defined by Section 17039, an earned income tax credit in an amount equal to an amount determined in accordance with Section 32 of the Internal Revenue Code, relating to earned income, as applicable for federal income tax purposes for the taxable year, except as otherwise provided in this section.

(2)(A) The amount of the credit determined under Section 32 of the Internal Revenue Code, relating to earned income, as modified by this section, shall be multiplied by the earned income tax credit adjustment factor for the taxable year.

(B)Unless otherwise specified in the annual Budget Act, the earned income tax credit adjustment factor for a taxable year beginning on or after January 1, 2015, shall be 0 percent.

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Legislative history

Amended (as amended by Stats. 2022, Ch. 72, Sec. 1) by Stats. 2022, Ch. 482, Sec. 5. (AB 1766) Effective January 1, 2023.