Since their introduction in California in 1993, the sales and use taxation of technology transfer agreements has been the subject of significant litigation and a seemingly endless regulation project. In the past few...more
On May 3, 2023, the U.S. Tax Court upheld a taxpayer’s reliance on Revenue Procedure 93-27 to characterize as a profits interest a partnership interest granted in exchange for services that were provided indirectly for the...more
n Matter of Body Wise International LLC (OTA Case No. 19125567; 2022 – OTA – 340P), a California-based retailer collected amounts designated as “tax” related to jurisdictions where it was not registered to collect tax. The...more
Of the twelve statewide ballot propositions certified to appear on the ballot for the upcoming election on November 3, 2020, two seek to amend the taxation of real property in California. Before diving into the proposed...more
An insurer of a suspended corporation has an incentive to defend the corporation because it may be liable to a judgment creditor that obtains a default judgment against the insured suspended corporate. See Cal. Ins. Code §...more
As are result of legislation enacted last year, California corporations and limited liability companies may now apply to the Franchise Tax Board for administrative dissolution/cancellation. 2017 Cal. Stats. ch. 679 (AB...more
TAX TIDBIT - Welcome to the 116th Congress! Congressional members have been sworn in and are back in Washington. The big caveat — the U.S. government remains shut down for the foreseeable future as we hurtle towards tax...more
Under California law, there are two separate tax implications affecting California real estate transfers that result in a “change in ownership” of the real property - a property tax reassessment and a real property transfer...more
Suppose Mr. Henry owns all of the outstanding shares of a Virginia corporation that owns all of the issued and outstanding shares of a Massachusetts corporation that owns, among other things, real property in Los Angeles,...more
Here is the question: Can a judgment creditor can enforce an assignment issued pursuant to the Enforcement of Judgments Law (CCP § 680.10 et seq.) for escheated property pursuant to the Unclaimed Property Law (CCP § 1500...more
On January 30, 2017, the California Legislature Assembly Committee on Revenue and Taxation held an informational hearing on “Life after Lucent: Administering California’s Technology Transfer Agreement Law.” The California...more
In California, a corporation may find its powers, rights and privileges suspended by either the Secretary of State or by the Franchise Tax Board. Today’s post discusses the two roads to suspension by the California Secretary...more
On October 4, 2015, California Governor Jerry Brown signed Assembly Bill No. 1032, an act to amend Sections 60501 and 60505.5 of the Revenue and Taxation code, relating to taxation, into law. The bill adds biodiesel to the...more