California’s Existing Partial Exemption for Statewide Sales and Use Tax Paid on Qualified Tangible Personal PropertyRTC section 6377.1 exempts from certain state sales and use taxes the sale of, and the storage, use or other...more
6/2/2023
/ Business Strategies ,
California ,
Capital Investments ,
Income Taxes ,
Investment Opportunities ,
Legislative Agendas ,
Manufacturers ,
Pending Legislation ,
Personal Property ,
Power Infrastructure ,
R&D ,
Regulatory Agenda ,
Regulatory Reform ,
Tangible Property ,
Tax Credits
California Democratic lawmakers recently introduced Assembly Constitutional Amendment 11 (“ACA 11”) which proposes to abolish the State Board of Equalization (“BOE”) and reassign its responsibilities to other state tax...more
In the City of Los Angeles, Measure ULA will impose an additional city real estate transfer tax of 4% on transactions between $5 million and $10 million and an additional 5.5% on transactions over $10 million.
In the City...more
In 2018, San Francisco voters approved, by simple majority vote, two new gross receipts taxes: the Homelessness Gross Receipts Tax (SF-HT) and the Commercial Rents Tax (SF-CRT), with both taxes effective as of January 1,...more
A recent change in New York law requires local authorities to assess spent nuclear fuel storage facilities at permanently shutdown nuclear power plants as real property for ad valorem tax purposes.
The legislation raises...more
1/26/2021
/ Ad Velorum Property Taxes ,
Energy Storage ,
Governor Cuomo ,
New Legislation ,
New York ,
Nuclear Power ,
Nuclear Regulatory Commission ,
Nuclear Waste ,
Property Tax ,
State and Local Government ,
Valuation
California voters say “No” to split roll, and San Francisco voters say “Yes” to higher gross receipts taxes and real estate transfer taxes.
Initial returns show California voters rejecting Prop. 15.
San Francisco voters...more
11/9/2020
/ Ad Velorum Property Taxes ,
California ,
Coronavirus/COVID-19 ,
Equity Compensation ,
Executive Compensation ,
Gross Receipts Tax ,
Local Taxes ,
Popular ,
Property Tax ,
Small Business ,
Transfer Taxes
This November, California voters will decide whether commercial and industrial properties will lose their Proposition 13 protection against property tax reassessment.
The Split-Roll Initiative has officially qualified for...more
In 731 Market Street Owner LLC v. City and County of San Francisco (June 18, 2020), California appellate court affirms that local realty transfer tax does not apply when leasehold has a remaining term of 35 years or...more
The legislation suspends California net operating loss deductions for tax years beginning in 2020, 2021 and 2022.
It limits California tax credits to $5 million for each taxpayer for the same tax years....more
In South Dakota v. Wayfair, Inc., the Court overrules the “physical presence” requirement as “unsound and incorrect” -
The Court holds that the South Dakota law satisfies the Commerce Clause “substantial nexus”...more
6/22/2018
/ Appeals ,
Commerce Clause ,
Constitutional Challenges ,
Internet Retailers ,
Interstate Commerce ,
Out-of-State Companies ,
Physical Presence Test ,
Quill ,
Reversal ,
Sales & Use Tax ,
SCOTUS ,
South Dakota v. Wayfair ,
Substantial Nexus
Initiative 17-0055 would limit Proposition 13 protection to residential property.
New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value...more
San Francisco electorate will vote on a new 1.7% or 3.5% tax on commercial rentals in June 2018.
It is estimated that about $65 million annually would be collected from the commercial real estate industry under the Housing...more
2/13/2018
/ CA Supreme Court ,
Commercial Real Estate Market ,
Housing Market ,
Landlords ,
Proposed Legislation ,
Rental Income ,
Rental Property ,
Rental Tax ,
Retailers ,
San Francisco ,
State Constitutions ,
State Elections
In 926 North Ardmore Avenue LLC v. County of Los Angeles, the California Supreme Court concluded that, subject to certain limitations, California’s Documentary Transfer Tax Act (the California DTTA), applicable to direct...more
In 926 North Ardmore Avenue, LLC v. County of Los Angeles, the 2nd District Court of Appeal held that Proposition 13 changes in ownership prompted by transfers of legal entity interests should also be characterized as “realty...more
On June 3, 2014, in a published decision, the California Court of Appeal for the Second Appellate District affirmed the Superior Court ruling in Ocean Avenue LLC v. County of Los Angeles, holding that even though 100 percent...more
The amount of non-taxable embedded software being taxed in California is a staggering number. While companies own assets with millions of dollars of embedded software, few companies are maximizing their property tax savings...more