Category Archives: California

Annualization Method for Estimated Taxes in California

Many taxpayers, especially those with income streams that are inconsistent, use the Annualization Method to make their estimated tax payments. For federal tax purposes, it’s relatively easy. You take the year-to-date income through the period end (March 31st, May 31st, … Continue reading

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What Do Hawaii, North Carolina, New York, Illinois, and California Have In Common?

The Tax Foundation noted last week that several states will be delaying income tax refunds. Hawaii won’t be sending out refunds until July 1st; North Carolina will send them out “when they feel like it,” and New York Governor David … Continue reading

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FUBAR Squared

Last night I wrote about California’s messed up implementation of new Use Tax reporting requirements. I forgot the best (or worst) part of the fiasco. Let’s assume that instead of purchasing a book you bought a computer monitor and did … Continue reading

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The Use Tax Mess in California

I’ve often wondered, how do you make the Franchise Tax Board (California’s income tax agency) look good? Well, I and other California tax professionals have discovered the answer: Have the Board of Equalization implement a program that had such a … Continue reading

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One Ray of Sunshine Amid the Darkening Gloom

California’s tax revenues were $1.2 billion higher than expected in January according to the Department of Finance. Democrats in the Legislature are unfortunately delusional about what $1.2 billion does to a $19.9 billion deficit. From the Mercury-News: “There is a … Continue reading

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Colorado Loves California Day

A news story out of Denver notes: Colorado lawmakers were incredulous after Gov. Bill Ritter declared that today is “Colorado Loves California Day.” Republican Rep. Jim Kerr of Littleton said, “Are you kidding me,” after he found out it wasn’t … Continue reading

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Reality Hits the Swamplands

I poke fun at New Jersey. The politics in the Garden State have been high on corruption and low on common sense. But in a shock (a very welcome and surprising shock) last November New Jersey residents said enough. Governor … Continue reading

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How Stupid Can the Democrats in our Legislature Be?

The answer is very, very stupid. On a party line vote, the California State Senate passed a health care bill that would cost $200 billion. The legislation will undoubtedly be vetoed by Governor Schwarzenegger. Meanwhile, as I reported earlier California … Continue reading

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Schwarzenegger Versus the Unions

Governor Schwarzenegger is taking on unions with his final budget. Steve Maviglio, a Democratic strategist, told the Los Angeles Times, “It’s a continuing jihad against organized labor. The governor thinks public employee unions are Enemy No. 1.” So what does … Continue reading

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Are Registered Warrants (IOUs) in California’s Future…Again?

California’s Controller, John Chiang, called California’s cash situation “precarious.” Mr. Chiang called on the legislature and Governor Schwarzenegger to act on the $9 billion of budget cuts by March. The alternative is that California will run out of cash. If … Continue reading

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