The California Franchise Tax Board's decision to recoup the Cal Rev & Tax Code § 24402 dividends received deduction against a taxpayer was proper where Board proceeded with proper authority to remedy Commerce Clause violation infecting Cal Rev & Tax Code § 24402, and remedy of disallowing dividends received deductions for years at issue did not violate due process.
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View free narrative insights on this site by Morrison & Foerster, LLP tax attorneys: California Court of Appeal Permits Retroactive Taxes to Remedy Unconstitutional Discrimination; Upholds Post-Amnesty Penalty