The California Franchise Tax Board (FTB) issued Legal Ruling 2017-02 on October 16, 2017, concerning the state filing requirements of certain nonresident aliens with respect to foreign financial assets. California filing requirements generally conform to federal...
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Californians Can e-File Amended Returns Starting in 2018
According to the October 2017 newsletter of the California Franchise Tax Board, beginning in January 2018, California taxpayers will be able to e-file amended individual returns for tax year 2017 and later on a new Schedule X, California Explanation of Amended Return...
FTB Rules on Market-Based Sourcing of Non-Marketing Services
The California Franchise Tax Board (FTB) issued Chief Counsel Ruling 2017-01 on August 2, 2017, regarding market-based sourcing rules for performance of "non-marketing" services. Where a subcontractor performed administrative or non-marketing business services for a...
FTB Releases Data on 2017 Filing Season
The California Franchise Tax Board (FTB) recently released an update on the current state tax filing season. The number of personal returns that were e-filed in 2017 increased by one percentage point as compared to 2016 (88% in 2017, and 87% in 2016). Some 133,400...
FTB Changes Cost Recovery Fees for Delinquent Returns and Tax Payments
The Franchise Tax Board has updated its cost recovery fees, which are assessed against individuals and business entities when they fail to file tax returns upon demand or fail to pay their delinquent taxes. The filing enforcement fee for individuals and most entities...
A New Solution to an Old California Business Problem
We experienced an original success this month, trying a new approach to a very old problem. Businesses that register with the California Office of the Secretary of State (SOS) must, among other things, file annual income tax returns with the California Franchise Tax...
FTB Changed Tax Return Due Dates for Business Entities
Remember: The California Franchise Tax Board (FTB) changed the tax return due dates for returns filed by business entities. The original return date is now April 15 for calendar-year filers (one month later than it used to be), and the 15th day of the...
Moving your Business to California, or Keeping your Business in California – California Offers a Tax Credit
The Franchise Tax Board announced it will be accepting applications for the California Competes Tax Credit from March 6 through March 27, 2017. The credit is available to businesses that relocate to California or stay and expand within the state. During Fiscal Year...
FTB Tax Return Due Dates
The California Franchise Tax Board (FTB) issued a reminder regarding tax return due dates, which have changed for taxable years starting January 1, 2016 going forward. For calendar-year filers, tax returns are due on:April 15 (C Corporations and LLCs); March 15 (S...
California Court Finds Mere Failure to File Tax Returns Sufficient to Determine Intent to Evade Paying Tax
California taxpayers beware! Willfully failing to file tax returns for three or more consecutive years is sufficient to determine the taxpayer intended to evade paying tax, and therefore may be prosecuted for felony tax evasion and punished by imprisonment not to...