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Month: October 2013

Governor Signs Bill to Reduce Excise Tax Penalty, Clarifies use of Motion Picture Tax Credit and Simplifies Tax-Exempt Process for some Nonprofits

Governor Brown signed AB 1173 by Assemblymember Raul Bocanegra (D-Los Angeles) which reduces the excise tax penalty from 20% to 5% for taxable years beginning January 1, 2013, amounts deferred under a nonqualified deferred compensation plan that does not meet the...


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