Franchise Tax Board – Page 6

California’s Tax Agencies

August 8, 2020 7:37 amAugust 9, 2020 8:05 am

California’s tax system actually involves four state departments. And, most Californians do not realize that the EDD is the largest tax collection agency in the state. The purpose of this article is to provide a broad overview of the tax...

Assembly Bill To Raise Taxes For Higher Income Earners Faces Tough Legislative Votes

August 3, 2020 1:01 pmAugust 4, 2020 8:09 pm

On Monday, a recently amended bill that would increase taxes on small businesses and taxpayers making over $1 million of taxable income a year began it’s month-long fight to be passed and approved by the end of the legislative session...

Jury Rolls Expanded To Include Taxpayers Under Renewed Bill

July 17, 2020 6:27 am

A bill that would expand California county jury rolls to include those who paid Franchise Tax Board (FTB) state taxes received a new push this week following an Assembly Judiciary Committee hearing delay in early July. The expansion of jury...

Overview of Gov. Newsom’s Retroactive ‘Revenue Raising Proposals’ in the May Budget Revise

May 24, 2020 4:01 pmMay 24, 2020 4:09 pm

As part of his May Budget Revision (the “May Revise”), Governor Newsom proposed several “revenue raising solutions.” The Governor’s Department of Finance has just released the proposed budget trailer bill language to implement this revenue raisers. The first proposal is...

Controversial Home Mortage Deduction Cap Bill Withdrawn in Assembly

May 21, 2020 4:30 pmMay 21, 2020 7:26 pm

On Tuesday, the divisive Assembly Bill 1905, which would have limited mortgage interest deductions (MIDs) on primary and secondary homes to fund homeless programs, was withdrawn only hours before it was scheduled to be heard during the Assembly Housing and...

Governor’s Executive Orders Impact State Tax Obligations

April 6, 2020 6:15 amApril 6, 2020 6:20 am

On March 30, 2020, Governor Gavin Newsom issued Executive Order N-40-20 which is intended to “provide relief to California small businesses.” This particular Executive Order (EO) has a number of provisions related to state tax laws which are intended to...

Non-Profit Organizations Would Not Have to Pay Filing Fees Under SB 934

February 24, 2020 1:41 pmFebruary 25, 2020 9:58 am

Late last week a new bill that would eliminate California Franchise Tax Board (FTB) filing fees for non-profit organizations was introduced to the Senate. Senate Bill 934, introduced by Senator Patricia Bates (R-Laguna Niguel), would get rid of the current...