July 1, 2013

Committee on Appropriations approves bill to prohibit deductions of punitive damages

The Committee on Appropriations of the California State Assembly has approved a bill that would prevent California taxpayers from deducting payments of punitive damages.  Assembly Bill 458, which we previously discussed here, will now head to the state senate.  Despite the committee approval, the bill still seems unlikely to pass.  It would require a two-thirds majority approval.