Tag Archive for BOE

Why You Don’t Mess With California – A Primer On California Tax Collection Actions

California is unique in the structure of its tax system. Most States operate under a single tax agency. The Federal government uses a single tax agency called the IRS. But California has three tax agencies! They are the Franchise Tax Board (“FTB”), Board Of Equalization (“BOE”) and the Employment Development Department (“EDD”).

What does FTB cover?

The FTB administers the income tax. This tax applies not only to individuals, but also to sole proprietorships, partnerships, estates, and trusts. In addition, the income “passed through” to individuals by Subchapter S corporations and certain other entities is subject to State Personal Income Taxation. The tax is applied to all sources of income unless specifically excluded, including wages and salaries, interest, dividends, business-related Read More

Written by | Posted in State And Local Tax (SALT)

Manufacturing Exemption From Sales And Use Tax

California State Board of Equalization Manufacturing Exemption from Sales and Use Tax is Scheduled to Begin in July, 2014

A law created by Governor Brown’s 2013 Economic Development Initiative allows certain businesses in manufacturing or in the fields of biotechnology or physical, engineering, and life sciences to purchase or lease manufacturing or research and development equipment at a reduced sales and use tax rate for purchases occurring on or after July 1, 2014. (See Assembly Bill 93 (Stats. 2013, Ch. 69) and Senate Bill 90 (Stats. 2013, Ch. 70); and Revenue & Taxation Code section 6377.1.) The California State Board of Equalization (BOE) will be the agency overseeing and implementing this manufacturing exemption. Read More

Written by | Posted in Sales/Use Tax