2025 California Tax Update: Summer Release

Upon completion of this course, participants will be able to:
• Identify current California tax rates, inflation adjustments, and key thresholds for 2024 and 2025, including SDI rates, AGI limits, phase-outs, and minimum filing requirements.
• Distinguish California’s conformity and nonconformity with federal tax law, including recent updates under SB 711, SECURE 2.0, the CARES Act, TCJA, and other federal legislation.
• Apply California’s electronic payment and filing requirements, including rules for mandatory electronic payments, disaster relief delays, and the MyFTB system enhancements.
• Evaluate California tax credits and special programs, such as the Young Child Tax Credit, Foster Youth Tax Credit, Small Business Hiring Credit, and EITC expansion initiatives.
• Interpret California’s residency and worker classification standards, including updates on the ABC test, Borello factors, and Proposition 22 for app-based workers.
• Identify California’s new employment and benefit requirements, including mandatory sick leave accrual under SB 616, CalSavers deadlines, and retirement plan updates under SECURE 2.0.
• Understand property, sales, and cannabis tax updates, including Proposition 19 changes, electronic signature acceptance, and revised cannabis excise tax collection rules.
• Recognize California’s penalty abatement options and compliance updates, including first-time abatement availability, reasonable cause procedures, and statute of limitations rules.
• Analyze California’s treatment of NOLs and excess business losses, including recent suspensions, carryover rules, and conformity limitations.
• Apply knowledge of industry-specific developments, such as updates affecting exempt organizations, installment agreements, conservation easements, and the cannabis industry.