California: New Law Makes Techical Corrections to Perviously Enacted Single Sales Factor Law

A.B. 1546, signed by Governor on 10/11/2009. New law enacts technical correction language to the State's 2009-2010 budget legislation that was enacted in February 2009, clarifying that the State's single sales factor election is available for tax years beginning on or after January 1, 2011. In the original version of the law, an ambiguity in the language led some to potentially interpret the provision as offering the election beginning in 2009, with mandatory single sales factor apportionment in 2011.