California Tax Blog

Helping Taxpayers Throughout California

Rex Halverson

Governor Gavin Newsom’s Revised Budget Proposal

On May 14, 2020, Governor Newsom proposed his May Revised Budget to the California Legislature. The proposal aims to raise $9.2 billion in taxes by suspending net operating loss deductions for 3 years and limiting utilization of business tax credits and incentives. This action could hinder companies from offsetting more than $5 million in tax

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California AB 5: Employee Classification Changes

On September 18, 2019, California governor Gavin Newsom signed Assembly Bill No. 5 into law. The law, popularly known as the “gig worker bill”, is intended to create statutory law implementing the decision of the California Supreme Court in Dynamex Operations West, Inc. v. Superior Court of Los Angeles, which ruled that the strict “ABC

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Sales Tax Issues to Consider When Buying a Business in California

People who are interested in buying a business often think about a number of things, namely the money they hope to make and the plans they intend to implement. While buying a business is certainly an exciting opportunity, it is also a financial transaction that can involve some significant tax considerations. In addition to doing

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What Happened To The California Board Of Equalization?

If you live in California, you’re likely already familiar with the California Board of Equalization, or the BOE. Instead of having a Department of Revenue like other states, in California the BOE was the government agency responsible for collecting sales and use taxes among others, auditing taxpayers and hearing tax appeals. These appeals involved individuals

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How Will a California FTB Lien Impact Your Credit Score?

Both the U.S. Government and the State of California take the collection of taxes very seriously. Both the Feds and the State have a number of ways to force non-compliant taxpayers to pay the government the money that they owe. One of the most common of these is a tax lien. A tax lien cannot

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Tax Implications of Government Regulation In The Marijuana Business

How Does the Federal Government Regulate Drugs? Under the federal Controlled Substances Act (CSA) drugs are classified into 5 schedules. Drugs are placed into a schedule based on their acceptable medical use and their potential for abuse or dependency. Schedule I, which includes marijuana, is reserved for drugs that currently have no acceptable medical use

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