California Revenue and Taxation Code

§ 17053.75

RTC § 17053.75 Effective Sep 29, 2022Div. 2 · Part 10 · Ch. 2

Statute text

(a)For taxable years beginning on or after January 1, 2024, and except as provided in subdivision (b), there shall be allowed to a qualified taxpayer a credit against the “net tax,” as defined in Section 17039, in an amount equal to the greater of the following:

(1)Dues paid in that taxable year by the qualified taxpayer multiplied by the workers’ tax credit adjustment factor.

(2)The amount equal to dues paid in that taxable year by the qualified taxpayer, not to exceed an amount set pursuant to subdivision (b) of up to one hundred dollars ($100), recomputed annually beginning January 1, 2025, in the same manner as the recomputation of income tax brackets under subdivision (h) of Section 17041.

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Legislative history

Added by Stats. 2022, Ch. 737, Sec. 3. (AB 158) Effective September 29, 2022.