California Revenue and Taxation Code

§ 17053.80

RTC § 17053.80 Effective Jan 1, 2024Div. 2 · Part 10 · Ch. 2

Statute text

(a)(1) For each taxable year beginning on or after January 1, 2022, and before January 1, 2027, there shall be allowed to a qualified taxpayer that employs an eligible individual a credit against the “net tax,” as defined in Section 17039, an amount as determined pursuant to paragraph (2), not to exceed thirty thousand dollars ($30,000) per taxpayer per taxable year.

(2)A qualified taxpayer shall be allowed the credit pursuant to this section in the following amounts per taxable year:

(A)Two thousand five hundred dollars ($2,500) for each eligible individual that works at least 500 hours, but fewer than 1,000 hours, for the eligible employer during the taxable year in which the credit is claimed.

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Legislative history

Amended by Stats. 2023, Ch. 131, Sec. 208. (AB 1754) Effective January 1, 2024. Repealed as of December 1, 2027, by its own provisions.