There is a little relief for California businesses affected by wildfires. The California Board of Equalization or BOE recently announced that any business affected by a California wildfire may file for an extension on any tax returns that are due, as well as relief from some penalties and interest associated with the collection and payment of some taxes. Businesses may also find the fees for obtaining copies of prior tax returns waived if the originals were lost or damaged in the wildfires.
“In order to alleviate pressure during this stressful time, the BOE will grant a 30-day extension for sales and use taxes due to those affected by the fires in (affected) counties.” The Vice Chair of the BOE, George Runner, expressed a strong desire to be sensitive to the needs of California businesses affected by wildfire, and to provide them with enough flexibility to get through the immediate challenges that these fires present.
If you are a California business and have been affected by wildfires or are concerned about tax returns and collection of sales tax or payroll tax we invite you to call for a free consultation at 866-631-3470.