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FTB

California Provides Nexus Relief

What happens when an out-of-state business suddenly has an employee working from home in California due to COVID-19, and in accordance with Governor Newson’s Executive Order N-33-20, the “Stay at Home” Order?  A corporation may be concerned that while it had no...

Trusts with California Income are Taxable in California

A California Appellate Court recently held that all of a trust’s California source income is taxable in California, regardless of the state of residence of the trust’s fiduciaries.  The Court clarified that it is non-California source income that is dependent on the...

FTB Relief Related to COVID-19

The FTB has announced an extension of time for taxpayers to file their tax returns and make payments to the FTB.  This applies to individuals and businesses with a California tax return or payment due between March 15th and June 15th.  Taxpayers do not need to be...

FTB Increases Interest Rates

The California Franchise Tax Board (FTB) recently announced that interest rates for personal income tax underpayments and overpayments, corporate underpayments, and estimate penalties will increase to 6 percent for 2019.  The corporate overpayment interest rate will...

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