Bill Text: CA AB2230 | 2009-2010 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

---

Bill Title: Franchise Tax Board: administration: list: publicly

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2010-06-03 - To inactive file on motion of Assembly Member Charles Calderon. [AB2230 Detail]

Download: California-2009-AB2230-Amended.html

---

BILL NUMBER: AB 2230	AMENDED
	BILL TEXT

	AMENDED IN ASSEMBLY  APRIL 27, 2010
	AMENDED IN ASSEMBLY  APRIL 5, 2010

INTRODUCED BY   Assembly Member Charles Calderon

                        FEBRUARY 18, 2010

   An act to add Section 19196 to the Revenue and Taxation Code,
relating to taxation.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 2230, as amended, Charles Calderon. Franchise Tax Board:
administration: list: publicly traded corporations.
   Existing income and corporation tax laws require the Franchise Tax
Board to annually list the 250 largest tax delinquencies in excess
of $100,000.
   This bill would require the board to make available as a matter of
public record and post on its Internet Web site by March 31, 2011,
and annually thereafter, a list of the 100 largest publicly traded
corporations, based on gross receipts  attributable to the state
 , filing tax returns for a taxable year and with tax
expenditures, as specified.
   Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 19196 is added to the Revenue and Taxation
Code, to read:
   19196.  (a) Notwithstanding any other provision of law, the
Franchise Tax Board shall make available as a matter of public record
and post on its Internet Web site by March 31, 2011, and annually
thereafter, a list of the 100 largest publicly traded corporations,
based on gross receipts  from all sources derived from or
attributable to this state  , filing tax returns for a taxable
year and with tax expenditures. The list shall commence with tax
returns filed for taxable years beginning on or after January 1,
2008.
   (b) Each annual list as described in subdivision (a) shall include
the following information for each corporation:
   (1) The name of the corporation.
   (2) The California corporation number.
   (3) The address of the principal office.
   (4) The aggregate amount of tax expenditures.
   (5) The effective tax rate.
   (c) For purposes of this section, the following definitions shall
apply: 
   (1) "Aggregate amount of tax expenditures" means the aggregated
amount of tax expenditures claimed by the corporation on its tax
return for the taxable year.  
   (1) 
    (2)  "Effective tax rate" means an amount, expressed as
a percentage, determined by dividing the amount of taxes paid by a
taxpayer for a taxable year by an amount equal to the sum of the
following:
   (A) The taxable income of the taxpayer for the taxable year.
   (B) The tax expenditures of the taxpayer that were deducted by the
taxpayer in arriving at the taxable income of the taxpayer for the
taxable year. 
   (2) 
    (3)  "Tax expenditure" means tax expenditures as
detailed in the California Income Tax Expenditures, Compendium of
Individual Provisions Report, compiled by the Franchise Tax Board.