California Revenue and Taxation Code

§ 23628

RTC § 23628 Effective Jan 1, 2024Div. 2 · Part 11 · Ch. 3.5

Statute text

(a)(1) For each taxable year beginning on or after January 1, 2021, and before January 1, 2022, there shall be allowed a small business hiring credit against the “tax,” as defined in Section 23036, to a qualified small business employer that receives a tentative credit reservation under Section 6902.10, in an amount calculated pursuant to paragraph (2).

(2)The amount of credit determined by this subdivision shall be equal to the amount calculated pursuant to subparagraph (A) minus the amount calculated pursuant to subparagraph (B).

(A)One thousand dollars ($1,000) for each net increase in qualified employees, as specified in subdivision (c), not to exceed one hundred fifty thousand dollars ($150,000).

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Legislative history

Amended by Stats. 2023, Ch. 131, Sec. 211. (AB 1754) Effective January 1, 2024. Repealed as of December 1, 2026, by its own provisions.