California AB122 amends tax laws to modify sales and use tax rules for digital products.

California AB122 amends the Revenue and Taxation Code to modify sales and use tax rules for digital products. It exempts certain digital products from sales tax and imposes use tax on digital products transferred electronically or accessed remotely. The bill also adjusts tax rates for limited liability companies and modifies the sourcing rule for digital products. It includes provisions for tax credits, exemptions, and adjustments to tax rates for different types of businesses. The bill aims to clarify tax obligations for digital products and adjust tax rates for certain businesses.

California AB122 amends tax laws to modify sales and use tax rules for digital products.

California AB122 amends the Revenue and Taxation Code to modify sales and use tax rules for digital products. It exempts certain digital products from sales tax and imposes use tax on digital products transferred electronically or accessed remotely. The bill also adjusts tax rates for limited liability companies and modifies the sourcing rule for digital products. It includes provisions for tax credits, exemptions, and adjustments to tax rates for different types of businesses. The bill aims to clarify tax obligations for digital products and adjust tax rates for certain businesses.