Bill Text: CA AB502 | 2019-2020 | Regular Session | Introduced
Bill Title: Personal income tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2020-02-03 - Died at Desk. [AB502 Detail]
Download: California-2019-AB502-Introduced.html
CALIFORNIA LEGISLATURE—
2019–2020 REGULAR SESSION
| Assembly Bill | No. 502 |
| Introduced by Assembly Member Brough |
February 13, 2019 |
An act to amend Section 17008 of the Revenue and Taxation Code, relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
AB 502, as introduced, Brough.
Personal income tax.
The Personal Income Tax Law imposes taxes on taxable income, as provided, and defines various terms for these purposes, including partnership and partner.
This bill would make nonsubstantive changes to those definitions.
Digest Key
Vote: MAJORITY Appropriation: NO Fiscal Committee: NO Local Program: NOBill Text
The people of the State of California do enact as follows:
SECTION 1.
Section 17008 of the Revenue and Taxation Code is amended to read:17008.
(a) “Partnership” includes a syndicate, group, pool, joint venture, or other unincorporated organization, through or by means of which any business, financial operation, or venture is carried on, and which is not, within the meaning of this part, a“ Partner”
(b) “Partner” includes a member in such a syndicate, group, pool, joint venture, or organization.
A
(c) A person shall be recognized as a partner for income purposes if he or she owns a capital interest in a partnership
in which capital is a material income-producing factor, whether or not such interest was derived by purchase or gift from any other person.
