SeeSALT BlogSALT attorneys Zachary Atkins, Evan Hamme, Taylor Wolff and Breanna Zagorski will be presenting at the COST Pacific Northwest Regional State Tax Seminar on December 5.
Articles Posted in Issues
California Imposes Further Disclosure Requirements for Local Sales Tax Sharing Agreements
Posted
On September 28, 2024, California enacted Assembly Bill 2854, which imposes new disclosure requirements on local agencies (i.e., chartered or general law cities and counties) that have entered into local sales tax sharing agreements with retailers. Generally, pursuant to a local sales tax sharing agreement, a retailer will agree to establish a new sales or fulfillment center in a local jurisdiction and source its sales to that local jurisdiction. In exchange, the local jurisdiction will provide the retailer a rebate on the local sales tax revenue generated for the local jurisdiction.
2024 CATA Annual Conference
Posted
Pillsbury SALT partner Craig Becker will be presenting at the California Alliance of Taxpayer Advocates 2024 Annual Conference on December 12.
California’s Market-Based Sourcing Amendments; Public Hearing Requests Due by Oct. 16
Posted
The California Franchise Tax Board (FTB) announced it has initiated the formal rulemaking process to amend Regulation Section 25136-2, which governs the sourcing of receipts from services and intangible property. The proposed changes would apply to taxable years beginning on or after January 1, 2024.
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31st Annual Paul J. Hartman SALT Forum
Posted
Pillsbury SALT partner Zachary Atkins will present at the 31st Annual Paul J. Hartman SALT Forum on October 28.
California Lawyers Association Tax Policy Seminar
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Pillsbury SALT partner Robert P. Merten III will present at a tax policy seminar hosted by the California Lawyers Association on October 18.
Arizona Court Shines (Sun)Light on Property Tax Treatment of ITCs
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The Arizona Court of Appeals held that an investment tax credit (ITC)
deferred as a tax asset has “value” and therefore is properly excluded from the taxable original cost of renewable energy equipment for Arizona property tax purposes. In so holding, the court rejected the argument that an ITC has no monetary worth until its owner derives an actual economic benefit from the ITC, i.e., by using it to reduce a federal income tax liability.
Technology Transfer Agreements: Latest Developments in California
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In 1993, the California Legislature amended Revenue and Taxation Code (RTC) sections 6011 and 6012 to exclude from California sales and use tax amounts charged for intangible personal property transferred with a technology transfer agreement (TTA) if the TTA separately stated a reasonable price for the tangible personal property (TPP). Nine years later, the State Board of Equalization (SBE) adopted Regulation 1507, Technology Transfer Agreements, to implement and interpret the TTA statutes and to incorporate the California Supreme Court’s holding in Preston v. State Board of Equalization, 25 Cal.4th 197 (2001). Subsequent litigation over the next 13 years in Nortel Networks, Inc. v. State Board of Equalization, 191 Cal.App.4th 1259 (2011) and Lucent Technologies, Inc. v. State Board of Equalization, 241 Cal.App.4th 19 (2015), invalidated portions of Regulation 1507, as well as Regulation 1502 (Computers, Programs and Data Processing). In the nine years since the Lucent decision, the SBE and its successor, the California Department of Tax and Fee Administration (CDTFA), have been engaged in a seemingly endless regulation project.
CalTax Foundation Webinar
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Pillsbury SALT partner Carley Roberts will participate as a panelist on an upcoming CalTax Foundation webinar on Tuesday, September 10.
Carveouts Count! Taxpayer Wins New Mexico Statutory Carveout Issue Regarding Unity
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The New Mexico Court of Appeals has held that a multinational oil and gas production company did not constitute a “unitary corporation” with its foreign subsidiaries, pursuant to statutory carve-out language regarding the term “unitary corporation.”