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CAEZ Conference – FTB Updates

CAEZ was lucky enough to have Jeanne Harriman of the FTB available throughout their recent conference. As far as Enterprise Zones go, she’s the closest thing we have to a rock star. The following are some highlights:

  1. In September, the Board of Equalization heard the appeal of Taiheiyo Cement and found in favor of the FTB. An official ruling will be issued in the near future. The case dealt with EZ Sales or Use credit and the correct application of “placed in service.” Listen to the audio of the hearing by clicking that little, blue “play” button.
  2. FTB will issue a “Tax News” article on October 31 discussing the ramifications of the BOE decision in the Jessica McClintock appeal (see earlier blog posts here and here).
  3. Currently pending with the BOE is the appeal of URS Corp. which will deal with documentation requirements for dislocated worker vouchers.
  4. Also pending at BOE is an Enterprise Zone Net Interest Deduction case involving Farmers & Merchants Bank.
  5. The Economic Development Areas Manual sections on Enterprise Zone will be updated by December.
  6. Regarding the 8886 issue, Jeanne conceded, based on arguments previously made here, that it would have been better had they simply asked taxpayers to mail the forms to a P.O. Box rather than to the aggressively frightening Abusive Tax Shelter Unit. However, even though making Enterprise Zone credits an exception seems to be under consideration, it doesn’t sound likely that will happen this year.

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