The Carlsbad Chamber of Commerce works hard to make sure that California, San Diego County and Carlsbad are busy friendly environments. We encourage legislation that allows for tax credits and incentives to business. Below is a list of 2007 California bills regarding tax credits and/or incentives. AB 135 (Houston)Income and corporation taxes: Net Operating Losses This bill would conform CA law to federal tax law and allow a net operating loss carryover for a period of 20 years (current CA law is 10 years). Chamber Position:   AB 1147 (Mullin) Corporation Tax: Net Operating Losses This bill would allow unused net operating loss credits to be sold to a qualified buyer beginning in tax year 2008. Chamber Position: AB 1179 (Garrick) Minimum annual tax: exemptions: corporations, LLC, limited partnerships, and limited liability partnerships. This bill would, for each taxable year beginning on or after January 1, 2007, reduce that minimum tax to $100. This bill would take effect immediately as a tax levy. Chamber Position: