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Senate committee advances bill to cut California’s $800 minimum business tax to $600
Summary
SB 347, presented by Senator Choi, would reduce California’s annual minimum entity tax from $800 to $600 for LLCs, LLPs, partnerships and corporations; committee moved the bill to appropriations with unanimous support recorded in the transcript.
Senator Choi presented SB 347 as his "state annual tax reduction bill," saying he would accept committee amendments. As amended, the bill reduces the state’s annual minimum tax from $800 to $600 for LLCs, LLPs, limited partnerships, S corporations and C corporations. Choi said he originally sought a larger reduction but compromised given the state's budget position.
Committee members thanked the author and spoke in favor, framing the measure as an attempt to balance reducing business costs with preserving revenue to pay for public services. No witnesses testified in opposition or additional supporters were recorded.
The committee moved SB 347 "as amended to the committee on appropriations;" the transcript records the committee’s action and subsequent roll call that the bill is out of committee (vote recorded as 5-0 in the transcript). SB 347 now goes to the Senate Appropriations Committee.
