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The 2020-21 May Revision: Revenue Proposals in the 2020-21 May Revision

May 20, 2020 - Under the Governor ’s proposal, corporations that have net income over $1  million (which the administration terms “medium and large ” corporations) would not be allowed to use NOLs to reduce their taxes for 2020, 2021, and 2022.
https://lao.ca.gov/Publications/Report/4238