The Halverson Difference
Individuals and businesses consult us on a broad range of California state and local tax issues, including property tax, sales tax, use tax, income tax, franchise tax, fuel tax, employment tax and business license tax matters, as well as California Enterprise Zone expansions and credits.
Recent News
Video: Governor Raises Enterprise Zones in Budget Press Conference
On June 11th, the Governor, along with Assembly Speaker John Perez and Senate President pro Tem Darrell Steinberg, held a press conference to discuss the agreement on a budget. In the middle of an answer to an unrelated question, Governor Brown interjected regarding his proposal to exchange the Enterprise Zone credit for a manufacturing sales [...]
Cutler Decision Update
The California State Senate yesterday approved a measure providing relief (albeit only partial relief) to those taxpayers facing retroactive tax assessments by reason of the Cutler decision… See full article here: California State Senate passes measure providing partial relief from Cutler decision (re: QSBS)
Taxes rise to pay off state’s jobless debt
California businesses are seeing annual tax increases because the state can’t afford to pay unemployment insurance claims without borrowing from the federal government…This year, the unemployment tax in California is rising by $21 per employee, the third-straight annual increase of that amount. That means employers will pay up to $539 in unemployment taxes per employee [...]
PPL Corp. v. Commissioner of Internal Revenue, No. 12-43
Decided May 20th, 2013- The U.K. one-time “windfall tax” imposed on privatized companies in 1997 and paid by petitioner, is creditable under Internal Revenue Code section 901(b)(1), which states that any “income, war profits, and excess profits taxes” paid overseas are creditable against U.S. income taxes, where here, the U.K. windfall tax’s predominant character is [...]