Senate Bill 113 (SB 113), which Gov. Newsom signed into law Feb. 9, 2022, contains important California tax law changes, including reinstatement of business tax credits and net operating loss (NOL) deductions limited by Assembly Bill 85 (AB 85) of 2020, as well as expansion of California’s pass-through entity (PTE) tax.
California SB 113 Eliminates Suspension on NOL Deductions, Lifts Limitation on Use of Tax Credits, and Expands Elective Pass-Through Entity Tax
![shutterstock_1209468139[1]](https://www.gtlaw-legacyadvisors.com/files/2022/02/shutterstock_12094681391.jpg)