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Out-of-State Trusts Can Now Participate in California Voluntary Disclosure Program

On Behalf of | Oct 4, 2017 | New Laws |

On September 25, 2017, Governor Brown signed S.B. 813 into law, which, effective January 1, 2018, expands the existing California state voluntary disclosure program to include out-of-state trusts with California beneficiaries and non-resident partners. Such taxpayers will now be eligible to use the voluntary disclosure program to bring non-California trusts into compliance with California state tax laws. In addition, the Franchise Tax Board (FTB) may waive late-filing penalties for certain types of entities and returns under the program.

For more information about this new law, click here. If you have an out-of-state trust, contact one of our attorneys today to discuss how to participate in this program.


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