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Articles Posted in California

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Revisiting California Tax Residency after the TCJA

(This article originally appeared in the Journal of Multistate Taxation and Incentives, Vol. 28, No. 9.) The question of whether or not an individual is a resident of a particular state has always been an important issue in the area of state personal income taxation. California, because of its top marginal…

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The California Office of Tax Appeals Rules for an Out-of-State Corporation

In “California Office of Tax Appeals Rejects Franchise Tax Board’s Broad Interpretation of California’s “Doing Business” Standard,” the SALT team examines the board’s rejection of the California Franchise Tax Board’s (FTB) extremely narrow interpretation and application of Swart Enterprises, Inc. v. Franchise Tax Board, involving California’s “doing business” standard.

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Fund Managers Face Tax Hike If California Passes AB 2731

(This article was originally published by Law360.) California’s A.B. 2731 seeks to accomplish what the federal Tax Cuts and Jobs Act did not, namely, to close the carried interest “loophole.” Currently making its way through state assembly committees, AB 2731 would impose an additional 17 percent tax on interest income derived…

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California’s Clean Energy Equipment Tax Exemption and the Value of Stakeholder Input

In “California Seeks Input on Clean Energy Equipment Tax Exemption,” an article that originally appeared in Law360, Carley Roberts, Robert P. Merten III and Jessica N. Allen summarize the sales and use tax exemption’s scope and qualifying requirements, the 2017 legislative changes to it, the CDTFA’s proposed amendments and why…

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Ballot Initiative Seeks to Eliminate Prop 13 for Commercial and Industrial Real Estate

TAKEAWAYS New initiative seeks to eliminate Proposition 13 protection for commercial and industrial property by requiring fair market value reassessments at least every three years Initiative seeks to add a $500,000 tangible personal property tax exemption for all taxpayers and a full exemption for taxpayers with less than 50 California…