AB 80 25% reduction - Spidell

AB 80 25% reduction

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Message Board AB 80 25% reduction

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    • #305381
      Miguel Arana
      Participant

      Not sure if I missed a clarification on AB 80.

      Has the Franchise Tax Board clarified if the 2020 VS 2019 25% reduction in gross income is based on the ANNUAL gross income or are we able to use ANY matching quarter of 2020 VS 2019to qualify for the tax exclusion?

      Frustrated in my research and thank you in advance.

    • #305384
      Sandy Weiner
      Participant

      The FTB is following the SBA guidance, which allows taxpayers to either compare the annual gross receipts for 2020 to 2019 or any matching  calendar quarter in 2020 to 2019.

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