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...
The California Waters Edge Election
What is the California Waters Edge Election and how does that affect taxation for certain taxpayers with offshore business income and assets? The California water's edge election was established in 1986 and was designed to restrict California's "application of the worldwide combined reporting method of determining income from California sources." Instead...