Category Archives: California

California Raises Taxes; Will Businesses Flee?

Posted on November 9, 2012 by Russ

Elections have consequences. California approved Proposition 30 last week, raising state income taxes “temporarily” by a minimum of 1% (from 9.3% to 10.3%); the top rate is now 13.3%. That is not a typo: If you make $1 million or … Continue reading →

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California Dreamin’

Posted on October 25, 2012 by Russ

Democratic Governor Jerry Brown of California is dreaming of a tax increase. Voters in California apparently aren’t sharing the same dreams; perhaps they see the current economic climate and wonder, ‘If we have to make do with our current earnings, … Continue reading →

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L.A. County Assessor Arrested in Corruption Probe

Posted on October 18, 2012 by Russ

John Noguez, Los Angeles County Assessor, Ramin Salari, a property tax consultant, and Mark McNeil, an aide to Mr. Noguez, were all arrested on charges of conspiracy and misappropriation of public funds. The allegation is that Mr. Salari paid (bribed) … Continue reading →

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FTB and BOE Release List of 500 Biggest Tax Delinquents

Posted on October 18, 2012 by Russ

California’s Franchise Tax Board released its list of the 500 largest income tax delinquents on Tuesday. New to the list is a notation of whether or not the individuals have state licenses. I’m amazed at how many attorneys are on … Continue reading →

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Why I’m Happy to be in Nevada and Not in California

Posted on October 9, 2012 by Russ

The Tax Foundation released its 2013 State Business Tax Climate Index today. Last year, I was a California resident; in the 2012 Index, California ranked 48th out of 50 states. I now reside in Nevada, which ranks 3rd out of … Continue reading →

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Gillette Decision Upheld, But Beware

Posted on October 6, 2012 by Russ

The California Court of Appeals for the First District upheld its earlier ruling in Gillette v. Franchise Tax Board. This means that for tax years from 1993 – 2011 a three-factor formula for apportioning income is valid. Earlier, the same … Continue reading →

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California Musings

Posted on September 27, 2012 by Russ

Yesterday a client emailed me and asked if I was planning on moving back to California. The answer is easy: no. I could make it stronger, but I’ll let others help with that. First, Dan Walters writes about what will … Continue reading →

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Court Rules that California Can’t Discriminate on Small Business Stock Tax Deferrals

Posted on August 30, 2012 by Russ

If you sell stock in a small business (one with $50 million of assets or less), and then take the proceeds and reinvest them within 60 days in another small business, you can defer the gain. California law has a … Continue reading →

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Math Is Hard

Posted on August 29, 2012 by Russ

Here’s a math question: What’s 15 +13? It’s 28, of course. Unfortunately, the Santa Clara Valley Water District (near San Jose, California) didn’t check their work. They added 15 years to 2013 and got 2029, not 2028. Oops. It’s a … Continue reading →

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Sheer Stupdity in the Bronze State

Posted on August 22, 2012 by Russ

Sometimes I read a story and wonder if I’m reading actual news or something from The Onion. Such was the case this morning when I looked at an op-ed in the Wall Street Journal/ on Democrats’ plan to mandate a … Continue reading →

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