California SB 1435: Retroactive Change to the Personal Income Tax Business Interest Limitation
California Senate Bill 1435 corrects a conformity omission affecting business interest deductions for taxpayers subject to California personal income tax. Signed September 14, 2026, the law adds R&TC §17225(c), providing that the federal limitation under IRC §163(j) does not apply for California personal-income-tax purposes for taxable years beginning on or after January 1, 2025. Individuals…




