Marty Dakessian at Reed Smith

California Court Finds Securitization Entities Subject to California Income Tax

A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more

5/13/2013 - Income Taxes Securitization SPEs

California’s Attempt to Retroactively Tax its Residents

In Cutler v. Franchise Tax Board, a case litigated by Reed Smith, a California Court of Appeal held that the California property and payroll requirements of California’s Qualified Small Business Stock provisions were invalid....more

2/12/2013 - Capital Gains Commerce Clause Cutler v Franchise Tax Board Franchise Tax Board Investors Qualified Small Business Stock Retroactive Application Retroactive Taxes Startups Tax Deferral

Microsoft Court Holds Right to Replicate Software Is an Intangible Property Right for Purposes of California’s Sales Factor...

Earlier this week, the California Court of Appeal, First District, held that the right to replicate and install software is an intangible property right for sales-factor sourcing purposes. Thus, for the years at issue, the...more

12/28/2012 - Franchise Tax Board Intangible Property License Agreements Microsoft Right to Replicate Royalties Software Tangible Property

California’s Proposition 39: Not-so-Mandatory Single Sales Factor

On November 6, California voters passed Proposition 39, which changes the state’s default apportionment to a single sales factor method. Additionally, Proposition 39 adopted a mandatory market-sourcing method for sourcing...more

11/14/2012 - Franchise Tax Board Gillette v Franchise Tax Board Multistate Tax Compact Proposition 39 Sales Factor

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