Cervantes Bill to Give Tax Cuts to Small Businesses Approved by First Assembly Committee
(SACRAMENTO) – This week, the Assembly Revenue & Taxation Committee approved Assembly Bill 162 by Assemblymember Sabrina Cervantes (D-Corona) and Assemblymember Sharon Quirk-Silva (D-Orange County) by a bipartisan vote of 8-0. AB 162 would make more small businesses eligible for the California Competes tax cut administered by the Governor’s Office of Business and Economic Development (GO-Biz). The tax cut is available to small businesses that wish to establish a business, or stay and grow an existing business, in California.