Category Archives: California

No Progress on the Budget

Posted on August 12, 2007 by Russ

I’ve been gone for two weeks (one week on vacation, one week in Florida on business), and California’s budget situation is unchanged. The GOP wants a balanced budget, an agreement that Attorney General Jerry Brown won’t sue developers over global … Continue reading →

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Probate in CA: Notify the FTB

Posted on August 11, 2007 by Russ

The passage of AB361 in California has modified California’s Probate Code (§902). Beginning July 1, 2008, estate representatives must notify the Franchise Tax Board when an estate is opened for probate. Current law requires notification within 90 days by an … Continue reading →

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Will There be a Budget When I Get Back From my Vacation?

Posted on July 27, 2007 by Russ

I’m leaving tomorrow for a ten-day vacation. Will California’s legislature have a budget by the time I return? Republicans in the State Senate want a balanced budget. State Senator Tom Harman (R-Huntington Beach) told the Flash Report, “Senate Republicans have … Continue reading →

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No Budget Yet

Posted on July 22, 2007 by Russ

California is still without a budget, and the battle will not end until Wednesday at the earliest. The State Senate recessed Saturday with Republicans refusing to budge. California requires a 2/3 vote in each house of its legislature to pass … Continue reading →

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Typos Count

Posted on July 19, 2007 by Russ

I used to reside in Tulare County, located in California’s Central Valley. It’s prime agricultural land. It’s also one of the poorest counties in California. And the county will need to find $327,000. The Dinuba Redevelopment Agency is funded through … Continue reading →

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It’s July 19th and There’s Still No Budget

Posted on July 19, 2007 by Russ

In nine days I go on vacation. I think it’s even money as to whether or not California has a budget before I leave. Of course, California is supposed to have a budget signed by June 30th, but that deadline … Continue reading →

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FTB Sends Erroneous Notices to EAs

Posted on July 11, 2007 by Russ

Spidell is reporting that California’s Franchise Tax Board (FTB) has sent notices to 1,400 tax preparers who are not registered, and threatened each with a $2,500 fine. Only one problem: EAs, CPAs, and attorneys aren’t required to be registered (all … Continue reading →

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An X-Rated Tax

Posted on July 10, 2007 by Russ

Democrats in Sacramento lack nothing in chutzpah. Democratic Assemblyman Charles Calderon is proposing an 8% tax on sexually explicit nightclub acts, sexually explicit pay-per-view movies, X-rated acts in public locations, and sales of sex toys. Forgetting the dubious constitutionality of … Continue reading →

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It’s July 9th, California. Do You Know Where Your Budget Is?

Posted on July 9, 2007 by Russ

It’s stuck in the legislature. The California Constitution requires a 2/3 vote in each house of the legislature for the budget to be approved. While the Democrats have a majority in both houses, they do not have a “super-majority” and … Continue reading →

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California Developing New K-1s

Posted on July 1, 2007 by Russ

A few years ago, the IRS introduced new Schedule K-1s. The Franchise Tax Board plans on introducing new K-1s for the 2007 filing season, so that “[t]ransferring amounts from federal K-1s to California Schedule K-1s will soon be easier.” You … Continue reading →

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