Tax Law

Recent Posts

California Franchise Tax Board Announces 20-Day Comment Period for Alternative Apportionment Regulation Amendments
Posted on 31 Dec 2020 by Eversheds Sutherland LLP

On December 29, 2020, California’s Franchise Tax Board (FTB) staff announced a twenty-day comment period for four changes to the proposed draft language of its 25137 Regulation (Alternative Apportionment). After the twenty-day comment period expires,... Read More

Taxpayer Privacy Rights Prevail: California Governor Vetoes Controversial California Corporate Tax Disclosure Bill, S.B. 972
Posted on 30 Sep 2020 by Eversheds Sutherland LLP

On September 29, 2020, Democratic Governor Gavin Newsom vetoed S.B. 972 , the controversial taxpayer disclosure bill that would have required the California Franchise Tax Board (FTB) to provide the Legislature annually with the names, tax liabilities... Read More

Taxpayer Privacy Rights Prevail: California Governor Vetoes Controversial California Corporate Tax Disclosure Bill, S.B. 972
Posted on 30 Sep 2020 by Eversheds Sutherland LLP

On September 29, 2020, Democratic Governor Gavin Newsom vetoed S.B. 972 , the controversial taxpayer disclosure bill that would have required the California Franchise Tax Board (FTB) to provide the Legislature annually with the names, tax liabilities... Read More

The Long Road to Clarity: FTB Holds Latest Meeting in Multiyear Project to Clarify Alternative Apportionment Petition Process
Posted on 13 Aug 2020 by Eversheds Sutherland LLP

On Aug. 11, the California Franchise Tax Board (FTB) held the latest Interested Parties Meeting (IPM) in its three-year long project to amend the state’s alternative apportionment petition regulation. The meeting covered changes in the latest proposed... Read More

Over-Hall: U.S. Supreme Court Holds States Retain Sovereign Immunity from Private Suits in Other States, Overturning Nevada v. Hall
Posted on 11 Jun 2019 by Eversheds Sutherland LLP

In a 5-to-4 decision, the US Supreme Court held that states retain sovereign immunity from private suits brought by individuals in courts of other states, and therefore, overruled its prior decision in Nevada v. Hall , 440 US 410 (1979). The decision... Read More

California FTB Chief Counsel Issues Ruling on Financial Corporations and Interest Rate Hedging Contracts
Posted on 20 Dec 2018 by Eversheds Sutherland LLP

On November 2, 2018, the Chief Counsel of the California Franchise Tax Board issued Chief Counsel Ruling No. 2018-01, determining: (1) that a taxpayer servicing mortgages was not a financial corporation for purposes of the corporation franchise tax; and... Read More

Taking Taxpayers for a Ride: California Upholds Mandatory Combined Reporting for Interstate Motorcycle Retailer
Posted on 12 Oct 2018 by Eversheds Sutherland LLP

The California Court of Appeals affirmed a trial court’s holding that the California Franchise Tax Board can require interstate unitary businesses to use combined reporting, even though combined reporting is optional for intrastate unitary businesses... Read More

On Rehearing the California Court of Appeal Allows MTC Election
Posted on 2 Oct 2012 by Asbury Law Firm

On rehearing, the California Court of Appeal has reaffirmed its earlier (vacated) decision and reversed the decision of the Franchise Tax Board ("FTB") in Gillette v. Franchise Tax Board . The Court of Appeal concluded that the 1993 amendment... Read More

On Rehearing the California Court of Appeal Allows MTC Election
Posted on 2 Oct 2012 by Asbury Law Firm

On rehearing, the California Court of Appeal has reaffirmed its earlier (vacated) decision and reversed the decision of the Franchise Tax Board ("FTB") in Gillette v. Franchise Tax Board . The Court of Appeal concluded that the 1993 amendment... Read More