Category Archives: FTB
FTB “Tax News” June 2009
Here is the June 2009 edition of the FTB’s “Tax News” newsletter.
This month’s edition includes an article called “Are You Familiar With California’s Enterprise Zones?“:
The Enterprise Zone (EZ) tax incentive program was created in 1986 to help local businesses, and encourage outside businesses to locate in economically depressed areas. The federal government does not have [...]
FTB: Jeanne Harriman Promoted
If you attended last week’s CAEZ Board meeting in Sacramento, then you heard the big news that the FTB’s Jeanne Harriman is being promoted effective next month. See below the text of an informational release that will appear on the FTB website in June. For as long as I can remember, Jeanne has [...]
FTB “Tax News” May 2009
Here is the May 2009 edition of the FTB’s “Tax News” newsletter.
This month’s edition includes a special section on the New Film Credit.
FTB FAQs
FTB held its Interested Parties Meeting today on the credit reassignment issue introduced by AB 1452.
In addition to the meeting, FTB published a web page of FAQs.
FTB “Tax News” April 2009
Here is the April 2009 edition of the FTB’s “Tax News” newsletter.
Of special interest is this section covering the new “New Jobs Tax Credit:”
A New Jobs Tax Credit is now available for employers beginning on or after January 1, 2009. The credit, which will be claimed on the 2009 tax return, is $3000 for each [...]
Breaking: FTB Exempts EZ Credit From 8886 Requirement
I have just been alerted to FTB Notice 2009-02 “Exemption from Contractual Protection Reportable Transaction Disclosure and Reporting Rules for California Enterprise Zone Hiring Credits,” posted today. Here is the link to the full notice: http://www.ftb.ca.gov/law/notices/2009/2009_2.pdf.
The notice states:
The purpose of this Notice is to advise taxpayers and material advisors that a transaction involving [...]
FTB Interested Parties Meeting: Credit Assignment
The FTB will be hosting an interested parties meeting on April 3, 2009 to discuss new provisions introduced in AB 1452 and SBx1 28 regarding the assignment of tax credits between unitary affiliates. Details can be found here on FTB’s website.
They have released a draft tax Form 3544, with instructions, for public comment. The following [...]
FTB “Tax News” March 2009
Here is the March 2009 edition of the FTB’s “Tax News” newsletter.
FTB “Tax News” February 2009
Here is the February 2009 edition of the FTB’s “Tax News” newsletter.
FTB “Tax News” January 2009
Here is the January 2009 edition of the FTB’s “Tax News” newsletter.
This issue includes information regarding the changes to tax credit usage implemented in AB 1452. It includes the following guideline to determine if a business falls under the $500,000 threshold set by the legislation:
For individual taxpayers, net business income is generally reported on federal [...]
FTB “Tax News” December 2008
Here is the December 2008 edition of the FTB’s “Tax News” newsletter.
This issue has the the legislative wrap up, for example:
AB 1452 (Committee on Budget, Stats. 2008, Ch. 763): Does the following:
* Suspends net operating loss (NOL) deductions for two years, makes the NOL carryover period 20 years, and allows taxpayers a two-year carryback for [...]
FTB “Tax News” November 2008
Here is the November 2008 edition of the FTB’s “Tax News” newsletter.
CAEZ Conference Update 2
As in past years, the CAEZ Conference had the benefit of receiving updates from Frank Luera of HCD and Jeannie Harriman of FTB.
HCD expects the final application for the next round of zone designations to be released as early as the week of Oct. 27. Those applications would then be due sometime next March or [...]
FTB “Tax News” October 2008
Here is the October 2008 edition of the FTB’s “Tax News” newsletter.
FTB “Tax News” September 2008
Here is the September 2008 edition of the FTB’s “Tax News” newsletter.
