Qualified Small Business Stock › Commerce Clause

News & Analysis as of May 26, 2013

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

The State Of California Seeks Back Taxes From Small-Business Shareholder- Not So Fast

by Anthony Diosdi | Moskowitz LLP on 2/14/2013

A closer look at federal constitutional case law would seem to indicate that the State of California may not find it so easy to seek refunds plus interest after all....more

California’s Attempt to Retroactively Tax its Residents

by Marty Dakessian, Kyle O. Sollie | Reed Smith on 2/12/2013

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

Tax Alert: FTB Disallows California Qualified Small Business Stock Benefits

by Adam Halpern, Andrew Kim, Ronald Schrotenboer | Fenwick & West LLP on 2/5/2013

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

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

by David Herbst, Matthew Portnoff | Manatt, Phelps & Phillips, LLP on 1/9/2013

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

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

by Matthew Richardson | Sheppard Mullin Richter & Hampton LLP on 12/28/2012

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

Law That Allows Taxpayer To Defer Capital Gains On Sale Of Small Business Stock With The Subsequent Purchase Of Stock In...

by Kronick, Moskovitz, Tiedemann & Girard on 9/11/2012

A court of appeal recently found unconstitutional a Revenue and Taxation Code provision that allows a taxpayer to defer capital gains when he or she sells stock in a qualified small business if the taxpayer uses the gain to...more

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