--- title: Not Your Father's Accountant Blog | Small business relief act description: Small business relief act | Business Insights For The Modern Business Owner from the good folks at Milam, Knecht & Warner. --- ### [![not your fathers accountant blog](https://www.weaddvalue.com/hs-fs/images/not-your-fathers-accountant-blog.jpg)](https://www.weaddvalue.com/blog/) # [California AB-150: Small Business Relief Act](https://www.weaddvalue.com/blog/ab-150/08.09.21) Posted by [Rex Ours](https://www.weaddvalue.com/blog/author/rex-ours) on August 09, 2021 - [Tweet](https://twitter.com/share) [![](https://www.weaddvalue.com/hubfs/CA%20AB-150-jpg.jpeg) ](https://www.weaddvalue.com/blog/ab-150/08.09.21) **On July 16, 2021, **California’s governor signed Assembly Bill 150 (AB 150). Among other things, this bill includes the “Small Business Relief Act”, which allows taxpayers to receive a credit for their share of state and local tax (SALT) deducted from the net income on their federal returns for their qualified business(es). This elective tax payment will be available from January 1, 2021 through January 1, 2026. [Read More](https://www.weaddvalue.com/blog/ab-150/08.09.21) 0 Comments [Click here to read/write comments](https://www.weaddvalue.com/blog/ab-150/08.09.21#comments-listing) Tags: [Accounting](https://www.weaddvalue.com/blog/topic/accounting), [COVID](https://www.weaddvalue.com/blog/topic/covid), [IRS](https://www.weaddvalue.com/blog/topic/irs), [California State Tax](https://www.weaddvalue.com/blog/topic/california-state-tax), [Small business relief act](https://www.weaddvalue.com/blog/topic/small-business-relief-act), [federal tax](https://www.weaddvalue.com/blog/topic/federal-tax), [Income tax](https://www.weaddvalue.com/blog/topic/income-tax) [All posts](https://www.weaddvalue.com/blog/all) ## Get The Latest! Sign up for our monthly newsletter for business owners. ## Lower Your Business Taxes Register today for a *Free* **Business Tax Diagnostic **from MKW. Minimize your taxes & free up cash to reinvest in your business.    [![Register Today](https://no-cache.hubspot.com/cta/default/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d.png)](http://cta-redirect.hubspot.com/cta/redirect/188908/112b3553-5f0f-4ef0-9995-44e6c67ab59d)