On Monday, September 9, 2024, the California FTB approved proposed amendments to California’s personal income tax code. This proposed rule would impose California income tax on non-resident/non-employee corporate...more
On Jan. 9, the United States Supreme Court heard oral argument in Franchise Tax Board v. Hyatt, a case addressing whether state agencies possess sovereign immunity from suit in sister state courts. Based on the oral argument,...more
State Attorneys General (“AGs”) continue to be active as both litigants and amici in cases before the U.S. Supreme Court. This term there are several cases with significant State AG amici involvement that implicate important...more
Today’s post will try to put the Franchise Tax Board’s recent Legal Ruling 2014-01 in perspective by imagining the following inquisition by the Franchise Tax Board...more
During the last several years, the California Franchise Tax Board (“FTB”) has been closely scrutinizing section 1031 exchanges, and finding section 1031 exchanges to be a fruitful area for state tax audits. While California...more
As a successful business owner or business owner with a new and trendy concept, you probably get approached frequently by people hoping to acquire rights to operate your business “back home.” You are probably flattered by the...more
Imagine you own a successful business with retail locations in several Southern California cities offering desserts in a unique fun-filled party atmosphere operating under the name Dessert Dreams. A Chicago investor...more