We are often asked "Are there strategies to reduce California tax on large taxable events such as selling shares of stock or settling a lawsuit?" The central answer to this question may come down to residency at the time of the transaction. The nominal tax rate in California is one...
Your Risk of a California Tax Audit May Be Higher than an IRS Audit
It may surprise many Californians to learn your risk of a California tax audit may be higher than an IRS audit. You may have heard in the news the rate of IRS audits is down. While this is true for lower income Americans, the cost of living in California naturally...
Amazon Faces a South Carolina Use Tax Battle With Huge Implications
Amazon faces a South Carolina use tax battle with huge implications for the multinational corporation and all firms and individuals who conduct business on the internet. The key question in the dispute is the collection of sales tax or "use tax" on sales made by third party merchants on Amazon's...
California Unitary Method or Waters Edge Election
How does a multistate or multinational corporation approach the question of the California unitary method or waters edge election for tax calculation purposes? The integrated tax, accounting, legal and business service at Allen Barron allow you to receive a more comprehensive answer from a broader perspective, yet detailed as we...
California Waters Edge Election Provides Needed Protections
The California waters edge election provides needed protections for national and international companies with business in the State of California. This important tax strategy is currently threatened by new legislation known as Senate Bill 567. The bill entitled the "Millionaire Tax Accountability Act" was recently proposed to close several "popular...
California EDD Business Audit Attorney
Every three years the California Employment Development Department (EDD) audits our corporations. You need an experienced California EDD business audit attorney to protect you during an EDD audit especially if you have 1099 workers. The EDD is actively seeking employers with 1099 workers in order to establish a determination of...
What is the California Waters Edge Election
What is the California Waters Edge election and how will the proposed changes affect business decisions going forward? Generally speaking California intends to tax any company conducting business in California on all of their company's revenues regardless of where "income" is generated or realized. Presently, the California Waters Edge election...
More Trouble for the California Board of Equalization
There is more trouble for the California Board of Equalization or BOE on the immediate horizon. The California state agency is responsible for the collection of one-third of all California taxes including sales and use taxes, while carrying responsibility for many property tax issues as well as over 30 other...
California FTB Audits on the Rise
The California Franchise Tax Board or FTB is increasing the number of tax audits it conducts due to increased information available through new systems, as well as information sharing with the IRS, Employment Development Department or EDD and other federal and state agencies. Annually, the FTB is up to more...