The proposal includes a shift to a single-sales-factor apportionment for financial institutions, aiming to increase tax revenue starting in tax year 2025....more
2/18/2025
/ Apportionment ,
Banks ,
California ,
Corporate Taxes ,
Financial Institutions ,
Income Taxes ,
State and Local Government ,
State Budgets ,
State Legislatures ,
State Taxes ,
Tax Reform
Following the IRS’s announcement of tax relief for 41 California counties* affected by severe winter storms, the California Franchise Tax Board (FTB) and California Department of Tax and Fee Administration (CDTFA) announced...more