The Gillette Company v. The California Franchise Tax Board (FTB) addresses whether taxpayers may elect to use the apportionment formula outlined in the Multistate Tax Compact (codified in former Revenue & Taxation Code Section 38006) rather than the...
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FTB
FTB Offers FAQ for Enhanced myFTB Website
California's Franchise Tax Board, which is responsible for administering the state's personal income tax and corporation tax programs, has recently launched an enhanced version of the website California taxpayers use to file and pay their taxes. The improved site,...
The Franchise Tax Board may have your money!
Did you know the Franchise Tax Board is seeking to refund a total of $28 million dollars to more than 49,000 Californians? Specifically, during 2015, the USPS returned more than 49,000 checks issued by the Franchise Tax Board for personal income tax refunds, because...
California Opens 2015 Tax Season
On January 5, 2016, the Franchise Tax Board announced it is now accepting 2015 state tax returns. All California state income tax returns will be due no later than April 18 (three days beyond the traditional April 15 deadline due to a federal holiday). New for 2015...
You may get relief from the IRS, but the FTB says no when it comes to mortgage debt relief.
California law remains out of conformity with the federal statutory exclusion for certain discharges of qualified principal residence indebtedness for discharges of indebtedness occurring on or after January 1, 2014. However, as explained in detail in FTB's February...
MyFTB Account Registration Disabled, What You Can Do in the Meantime
The FTB has disabled registration for new MyFTB accounts in anticipation of a new, enhanced version of MyFTB, to be released January 2016. However, taxpayers who have existing MyFTB accounts are able to use the following online services: · Web pay for businesses ·...
IRS Data Indicates Taxpayers Leaving California – Be Certain to Exit Correctly
The IRS released its most recent State-to-State Migration Data which summarizes information gleaned from individual income tax returns. Trends indicate that taxpayers are migrating into states including Texas, Florida, Colorado, and South Carolina, whereas taxpayers...
Closing a Business in California
When you close your doors, you have to follow certain formalities so that California knows you are no longer in business. The California Franchise Tax Board has published helpful information to dissolve, surrender, or cancel a business entity in California. In...
The FTB Makes Privacy and Security Policy Changes
Effective April 13, 2015, the Franchise Tax Board ("FTB") will enforce an updated privacy and security policy. It is necessary for the FTB to lawfully collect relevant personal information in order to enforce and administer the California Revenue and Taxation Code and...
Did You File Your 2013 California State Tax Return?
More than one million people earned money in 2013 but did not file a California State Income Tax Return and they will be hearing from the Franchise Tax Board (FTB).Each year the FTB receives over 500 million income records from banks, employers, the state government,...
