Among this year’s bills that Arcadia’s State Senator Dr. Ed Hernandez has supported that benefit business, according to his office:
SB 442 (Wyland)
State Board of Equalization: erroneous charges: Conforms the special taxes at the BOE to all other taxes and extends the reimbursement claim beyond 90-days for reasonable cause.
State Senator Ed Hernandez
SB 376 (Correa)
Sales and use taxes: personal and corporate in-come tax: manufacturers’ credit and exemption. (Tax Levy): Provides manufacturers, software publishers and their affiliates a 6.5% sales and use tax exemption.
SB 641 (Anderson)
Corporation taxes: minimum franchise tax: exemptions. (Tax Levy) : Exempts specified corporations from the minimum franchise tax for the first four years
SB 732 (Berryhill)
Sales and use taxes: exclusion: trade-in motor vehicle. (Tax Levy): Excludes the value of a “trade in” from the sales tax for the purchase of a new car.
SB 209 (Lieu)
Income taxes: exclusion: deferral: qualified business stock: Reenacts a recently struck down income exclusion for gains when selling qualified small business stock.
SB 19 (Knight)
Sales and Use Tax exemption for property for use in space flight: Expands the current sales and use tax exemption to include equipment and materials used to construct, reconstruct, or improve new or existing facilities designed to launch, manufacture, etc. that facilitate the renovation, rehabilitation, or reconstruction of commercial space launch sites.
SB 412 (Knight)
Sales and Use Tax Exemption: Aerospace Product Manufacturing: Research and Development: Enacts a sales and use tax exemption for equipment used to manufacture aerospace products.
SB 688 (Galgiani)
Sales and Use Tax Exemption for certain animal related drugs: Exempts certain animal related drugs from the sales and use tax.
