On September 11, 2020, Governor Newsom signed Assembly Bill 276 (“AB 276”), amending California’s tax law regarding the taxation of loans from qualified employer benefit plans to employees. The amendments track the provisions of the federal CARES Act on this issue, bringing much-needed uniformity between California and federal law governing this issue.

California and federal

As COVID-19 cases grow in California, lawsuits are already being filed against essential business employers, alleging companies did not or are not taking proper precautions to protect employees from the pandemic.  Employers are doing all they can to ensure they are complying with all applicable laws and regulations in these uncertain, historically significant times. With