Qualified small business stock gains.

• Position: News

AB 1412, which was recently signed by Gov. Brown, retroactively allows the Qualified Small Business Stock (QSBS) deferral and 50 percent gain exclusion for tax years 2008-12.

Although AB 1412 is effective Jan. 1, 2014, the FTB is providing information on the following for taxpayers impacted by amendments made by AB 1412 to Revenue & Taxation Code Secs. 18038.5, 18152.5 and 18153, Frank Cutlery. Franchise Tax Board, (2012) 208 Cal.App.4th 1247, or Franchise Tax Board Notice 2012-03:

* Taxpayers who have not filed their 2012 tax return;

* Taxpayers who filed...