News & Analysis as of

Cutler v Franchise Tax Board Retroactive Taxes

Sheppard Mullin Richter & Hampton LLP

California State Senate Passes Measure Providing Partial Relief From Cutler Decision (re: QSBS)

The California State Senate yesterday approved a measure providing relief (albeit only partial relief) to those taxpayers facing retroactive tax assessments by reason of the Cutler decision. In Cutler v. Franchise Tax Board...more

JD Supra Perspectives

Corporate Law Report: Workplace Romances, FMLA Changes, California Tax News, and More

JD Supra Perspectives on

Our latest Corporate Law Report includes a look at how to deal with office relationships, changes to FMLA rules to benefit veterans, an unfortunate tax development for investors in certain California business, and other...more

Fenwick & West LLP

Tax Alert: FTB Disallows California Qualified Small Business Stock Benefits

Fenwick & West LLP on

The California Franchise Tax Board (FTB) recently issued FTB Notice 2012-03, stating that the FTB will disallow the exclusion or deferral of gain under California's qualified small business stock (QSBS) statute for all tax...more

Manatt, Phelps & Phillips, LLP

FTB Retroactively Denies "Qualified Small Business Stock" Personal Income Tax Benefits

On December 21, 2012, the Franchise Tax Board ("FTB") released Notice 2012-03 (the "FTB Notice"), which notice outlines the procedures the FTB will apply in response to the Court of Appeal's recent decision in Cutler v....more

Sheppard Mullin Richter & Hampton LLP

FTB issues Notice to Retroactively Deny "Qualified Small Business Stock" Tax Benefits. Amended Returns Should be Filed.

A California appellate court recently held as unconstitutional the California statutes extending the benefits of selling “qualified small business stock” (QSBS) to California taxpayers. In Cutler v. Franchise Tax Board (2012)...more

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