News/Blog

Firm Updates and Announcements

Tax Deduction Suspension a Bust for Business

Last year California's governor and legislators codified a complete suspension of net operating loss (NOL) tax deductions for three years—a move meant to save the state general fund $4.5 billion at a great cost to businesses. But now the Legislative Analyst’s Office and the Department of Finance are projecting a $15 billion budget surplus, rendering the NOL freeze completely unnecessary.

Read More
Tom SheehyCA Taxes, CA Economy
AB 5 and Proposition 22 Discussion

SacTown Talks welcomed Tom Sheehy back for an in-depth discussion of AB 5 and this year’s legislative changes to the law. The discussion starts with background: the 2018 CA Supreme Court’s Dynamex decision and Assemblymember Gonzalez’s introduction of AB 5. Then they discuss the changes and carve-outs that happened in the fall of 2019, including an intriguing part where a senator pulled their own bill, which doesn’t often happen.

Read More
Tom Sheehy