Advertisement

GRAPHIC: Tax bill’s provisions

State giveth, taketh away The governor is expected to sign a bill passed Thursday by the Legislature that would: * Waive state taxes on mortgage debt forgiven in a foreclosure or short sale. * Provide $60 million in tax credits to companies that produce green power. * Reduce deductions for charitable gifts. * Tax more income earned by minor dependents. * Adjust capital gains tax rules for home sales. * Increase some penalties and interest charges to corporations. Source: California Legislature


Advertisement