In CA the assembly bill AB-80 was passed to provide conformity with federal income tax law. However, the original eligibility requirement of the CARES act remains. An ineligible entity means a taxpayer that either:
A. Is a publically-traded company
B. Does not meet a 25% or more reduction in gross receipts in 2020 as compared to the same (8 or 24 week) period in 2019
