CA conformity to inventory for small business?

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Message Board CA conformity to inventory for small business?

This topic contains 2 replies, has 3 voices, and was last updated by Mary Annette Fabay 2 months ago.

  • Author
    Posts
  • #147572
    Renee Azrieli
    Participant

    Has CA conformed to the changes under section 13102 to inventory for small business, the exception where certain small businesses can treat inventory as non-incidental and not have to report inventory on returns?

    Thank you

  • #147573
    Lynn Freer
    Participant

    No we have not. We hope to have conformity to this provision in the budget bill in June. Suggest you file an extension for CA to see if we conform.

  • #147852
    Mary Annette Fabay
    Participant

    for CA purposes what is the gross receipts test for inventory accounting?