Category Archives: California

Shaming in Sales Tax for the Fourth Quarter

Posted on December 1, 2010 by Russ

The Board of Equalization posted its fourth quarter 2010 list of the 250 most delinquent taxpayers. The BOE collects sales and use tax in California. (Now, if you’re asking me how the fourth quarter results can be posted at the … Continue reading →

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The Light at the End of the Tunnel Is the Oncoming Train

Posted on November 30, 2010 by Russ

The headline is apropos for the 111th Congress which likely won’t act on much of the budget, the extension of the Bush Tax Cuts, or the Estate Tax before the 111th Congress mercifully fades into oblivion. It will be difficult … Continue reading →

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Does California Have Some of Your Money?

Posted on November 18, 2010 by Russ

California used to be rather infamous about how quick it would seize unclaimed property. While the speed of seizing the funds has slowed down, there’s still millions and millions of dollars in Sacramento that belong to you. If you’ve ever … Continue reading →

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If Anyone Wonders Why the Economy Isn’t Adding Jobs

Posted on November 17, 2010 by Russ

First, there’s the news that a deal to extend the Bush Tax Cuts is unlikely to pass Congress before year-end. I expected that (this Congress hasn’t shown any ability to pass anything useful). While both Democrats and Republicans have publicly … Continue reading →

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California Starts the Year $6 Billion in the Hole

Posted on November 15, 2010 by Russ

California’s Budget Analyst announced that the state is already $6 billion in the hole, and that the state faces a $25 billion deficit for 2011. Personally, I think that’s understating the problem: I suspect the deficit will rise to $30 … Continue reading →

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Franchise Tax Board Implements New “MyFTB Account”

Posted on November 9, 2010 by Russ

The Franchise Tax Board has implemented a new “MyFTB Account.” This replaces the old “My Account” on the FTB’s website. Back in September I saw a demonstration of the new website and I was impressed. The system shows withholding, estimated … Continue reading →

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We Want It All But Don’t Tax Us To Get It

Posted on November 3, 2010 by Russ

Californians demonstrated their usual inimitable politics yesterday. Democrats won nearly every statewide office. The next Governor is Jerry Brown. Mr. Brown promised that there would be no tax increases without a vote of the people. (Barbara Boxer was reelected to … Continue reading →

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Proposition 26: Fees Require 2/3 Vote

Posted on October 29, 2010 by Russ

Proposition 26 on the California ballot would require many state and local fees to be approved by a 2/3 vote. Proponents of the measure argue that there are numerous hidden fees (taxes, in their view) that have been approved by … Continue reading →

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Proposition 25: Majority Budget Instead of 2/3 Vote

Posted on October 28, 2010 by Russ

Current law requires California to have a two-thirds vote in order to pass a budget. Proposition 25 would eliminate the two-thirds requirement and would allow the budget to be approved by a simple majority vote. Wow, it seems fair to … Continue reading →

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Proposition 24: Business NOLs and Multi-State Taxes

Posted on October 28, 2010 by Russ

Proposition 24 on the California ballot would eliminate the ability of businesses to take Net Operating Losses (NOLs) as federal tax law allows. Additionally, the measure would continue the usage of a three-factor system for taxation of multi-state entities by … Continue reading →

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