CA tax - Linkenheimer LLP CPAs & Advisors

California Tax Updates for 9/15

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Emergency tax relief is available for business owners and feepayers directly affected by declared disasters, through the California Dept. of Tax and Fee Administration (CDTFA). “Thank you to the President for your partnership and granting this urgent Major Disaster Declaration. California is battling two of the largest fires in our history and has seen nearly 600 new fires in the last week caused by dry lightning strikes,” reported Governor Gavin Newsom, adding, “CA is strong, we will get through this.” Relief may include extension of tax return due dates, relief of penalty and interest, or replacement copies of records lost due to disasters. Here’s more: https://bit.ly/2QrTV02

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California’s Sonoma County enacts emergency paid sick leave ordinance, for certain employers for COVID-19 related reasons. The ordinance took effect Aug. 18, 2020 and will remain in effect through 2020, unless the federal Families First Act (FFA) is extended. The ordinance now requires employers with 500 or […]

By Linkenheimer LLP|2020-09-15T20:17:59+00:00September 15th, 2020|ca, CA tax, california, disaster, employer, New Tax Laws|0 Comments

California Tax Updates for August 28

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The California Employment Development Dept. (EDD) has released the latest issue of its quarterly newsletter for employers. Among other things, it includes information about COVID-19 employer resources and a list of additional COVID-19 business resources and changes to CA’s Paid Family Leave Program. You’ll also find pdfs reporting the latest figures for unemployment benefits in CA by week. It does not include new information about withholding. Here’s the newsletter from EDD: https://bit.ly/30YYvJk

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The California Franchise Tax Board (FTB) just updated its COVID-19 Frequently Asked Questions (FAQs). The FAQs now state that paper returns and other documents must be signed with an original signature by a taxpayer, the taxpayer’s representative or both, but the FTB will not require an original signature through December 31, 2020. This is an extension from the previous end date of July 15, 2020, except for Powers of Attorney. The update is in the section on “Original signatures for paper returns and other documents” and is the only update the FTB made.

If you have […]

By Linkenheimer LLP|2020-09-03T20:01:59+00:00August 28th, 2020|Blog, ca, CA tax, New Tax Laws|0 Comments

California Tax Updates for July 8th

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Interest rates set on overdue payroll tax in California. For the period beginning July 1, 2020, through Dec. 31, 2020, the rate will be 5% compounded daily, according to the CA Employment Development Department. The rate is adjusted semiannually.

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A California apparel designer loses a tax credit fight in court. CA companies that engage in qualified research and development (R&D) activities may be entitled to a credit on their CA tax returns. In one case, a women’s apparel design company filed for tax refunds for 2008 through 2011, based on claims for R&D credits in those years. The credit related to projects, which the CA Franchise Tax Board (FTB) said didn’t satisfy a requirement known as the experimentation process test. The credits were disallowed. The taxpayer sought a rehearing in the CA Office of Tax Appeals. The Appeals Court agreed with the FTB and upheld the decision to disallow the credit. (Swat-Fame, Inc. 5/20/20) If you […]

By Linkenheimer LLP|2020-09-03T20:02:18+00:00July 8th, 2020|ca, CA tax, california, payments, research credit, tax credit|0 Comments

California Tax Updates for June 25

Update 1:

Many California businesses are downsizing or have closed permanently due to COVID-19. The California Franchise Tax Board (FTB) has released a detailed set of steps needed to fully close a CA business entity, including links to resources from the CA Secretary of State and other state departments. The FTB highlights the need to close out tax accounts by filing delinquent returns and paying all balances due on taxes, filing a current annual or quarterly return as final, filing the appropriate closure forms with different state agencies, notifying employees and other stakeholders of the intent to close and dissolving all accounts associate with the business. For more: https://bit.ly/37e3cjI

Update 2:

Businesses that hold unclaimed property in California get extra time to file reports. Due to COVID-19, the CA State Controller (SCO) has postponed the due date for holders of such property, including unclaimed wages, to submit their Remit Reports and Remittances for properties reported […]

By Linkenheimer LLP|2020-09-03T20:02:24+00:00June 25th, 2020|business, ca, CA tax, ftb, New Tax Laws|0 Comments

California Tax Updates for June 18

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Have you wondered what the California Taxpayers’ Rights Advocate actually does? The CA Dept. of Tax and Fee Administration just released a report highlighting the accomplishments of the Taxpayers’ Rights Advocate’s Office (TRAO). The annual report for 2018 through 2019 gives examples of the services it provides, and information about the tax appeals assistance programs. Also listed are the goals of the Advocate, including a primary goal of ensuring that taxpayers contacting the office with issues that haven’t been resolved through normal channels have their concerns promptly and fairly addressed. Here’s the TRAO report: https://bit.ly/37cwSxS

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California sales and use tax deadlines are coming up soon. The CA Dept. of Tax and Fee Administration (CDTFA) reminds sales and use taxpayers that June 24, 2020, is the filing due date for the May 1 through June 15, 2020 prepayment; and June 30, 2020, […]

By Linkenheimer LLP|2020-09-03T20:02:28+00:00June 18th, 2020|business, ca, CA tax, california, sales tax|0 Comments