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...
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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...
Court Finds Comcast Entitled to $3 Million Refund, But Owes Tax on a $1.5 Billion Termination Fee
In December a three-judge California appellate panel affirmed a superior court ruling finding that Comcast lacked a unitary relationship with OVC, Inc., and was therefore entitled to a $3 million refund. However, the court also affirmed the trial court's holding that...
FTB Announces 2016 Inflation Adjustments to “Bright-Line Nexus” Thresholds
California Rev. and Tax Code section 23101 defines what it means to do business in California, including a sales threshold for taxpayers not physically located in the state. A taxpayer is considered to be doing business in California "if it actively engages in any...
FTB Releases Report on 2016 Filing Season
The California Franchise Tax Board recently compiled statistics regarding the 2016 tax filing season. It released data regarding individual and business returns, refunds, and taxpayer services. Highlights included: A 3 percent increase in personal income tax returns...
California Tax Agency Interest Rates Scheduled to Increase in 2017
The California Franchise Tax Board recently announced that it will be increasing the interest rate for personal, corporate, and franchise taxes from three to four percent beginning January 1, 2017. The rate for corporation tax overpayments will remain zero percent....
FTB Creates Exemption to No Cash Policy
The California Franchise Tax Board (FTB) implemented a "no cash" policy in its field offices effective September 1, 2015. However, recognizing that this could create a hardship for some taxpayers, the FTB has established an exemption policy effective July 1, 2016....
FTB Assisting Taxpayers Affected by Late Withholding Reports
The California Franchise Tax Board (FTB) is experiencing a significant number of telephone calls, online chat queries, and in-person office visits related to withholding reports that were submitted late by taxpayers' employers. Taxpayers' returns were assessed and...
Supreme Court Weighs In On FTB v. Hyatt
The US Supreme Court issued its decision in Franchise Tax Bd. of California v. Hyatt on April 19, 2016, affirming the jurisdiction of the Nevada courts but limiting the damages it could award against the California tax agency. This decision lays to rest a case in...
FTB Delaying Some Refunds To Prevent Fraud
The California Franchise Tax Board (FTB) has delayed the tax refund process for at least 16,000 state taxpayers in order to complete extra identity verification steps to prevent refund fraud and identity theft. The FTB is sending letters to some...
