Furloughs crimp state workers' blood donations Sep 16, 2009
For years, the 5,000 workers at the state's Franchise Tax Board office in Rancho Cordova have hosted six annual, in-office blood drives, making it the largest state-agency donor in the Sacramento area ... For years, the 5,000 workers at the state's Franchise Tax Board office in Rancho Cordova have hosted six annual. (San Francisco Chronicle -- Politics)
Companies Sent Notices For Unpaid 2007 CA Taxes Sep 15, 2009
SAN DIEGO -- The California Franchise Tax Board Monday began sending notices to 2,573 companies in San Diego County that did business in the state in 2007, but failed to file a state tax return for that year. Businesses contacted by the FTB will have 30 days to file their delinquent tax return or explain why one is not due. (TheSanDiegoChannel.com, CA)
Former Gen Re executive faces sentencing Sep 14, 2009
Officials with the Franchise Tax Board say Philip Leech was taken into custody on suspicion of three counts of income tax evasion Tuesday. The 46-year-old Leech is the third executive of Pleasant Hill-based In esigns Inc. to be arrested for what tax officials say is the company's failure to pay taxes on more than $1. (Fresno Bee -- Business)
Va. seeks November execution for DC-area sniper Sep 13, 2009
Officials with the Franchise Tax Board say Philip Leech was taken into custody on suspicion of three counts of income tax evasion Tuesday. 00002162. (Fresno Bee -- Nation)
Rendell to discuss Pa. budget deal that he opposes Sep 13, 2009
The minority House Republicans are critical of it as well, saying they cannot support an increase in the capital stock and franchise tax paid by business owners. Pennsylvania has been without a comprehensive budget since the fiscal year began July 1 and is the last state still fighting over its annual spending plan. (Carlisle Sentinel, PA)
Tax revenue decline takes a sharper turn Sep 12, 2009
There was a slight increase in other tax collections, including the public service company tax, franchise tax, liquor tax, cigarette and tobacco taxes, insurance tax and conveyance tax ... There was a slight increase in other tax collections, including the public service company tax, franchise tax, liquor tax, cigarette and tobacco taxes, insurance tax and conveyance tax. (Honolulu Star-Bulletin)
Could a state budget be near? Sep 12, 2009
When I was first elected in 1992, the capital stock and franchise tax was at 12. 25 percent. (Milton Standard Journal, PA)
Gov., lawmakers still at odds over budget Sep 12, 2009
According to the Associated Press, the $28 billion budget calls for an increase in the capital stock and franchise tax and also assumes $200 million in revenue from table games at slots casinos. Rendell rejected the proposal, saying it "doesn't balance the budget this year, and it would leave a hole of almost a billion dollars for next year. I couldn't sign that in a responsible way, because we'd be back here next year banging our heads, doing the same thing. Pennsylvania law calls for the state... (Pittsburgh Business Times, PA)
Pa. lawmakers outline deal to end budget impasse Sep 12, 2009
lawmakers outline deal to end budget impasse - Somerset - Daily American. However, they acknowledged that many details remained to be worked out. (Somerset Daily American, PA)
Rendell says he will veto latest budget Sep 12, 2009
"There is plenty of economic pain and suffering to go around in this budget, including the job-killing Capital Stock and Franchise Tax and a 25-cent per pack increase in the cigarette tax," complained Rep ... The proposed budget also continues the Capital Stock and Franchise Tax, a levy on a business' capital assets, which was supposed to be phased out. (Pittsburgh Post-Gazette, PA)
Lawmakers say deal near on state budget Sep 11, 2009
The emerging plan would require an increase in the capital stock and franchise tax rate, currently 1. 89 percent, to 2. (Pittsburgh Post-Gazette, PA)
Governor outlines plan to help businesses Sep 11, 2009
Eliminate the Missouri franchise tax for more than 16,500 small businesses across the state, generating an average savings of about $1,000 a year for eligible businesses. Launch the a to provide loans, up to about $25,000 for small businesses. (St. Louis Business Journal, MO)
Labor Day Brings Light To Benefits Sep 8, 2009
"Taxes are not being collected at the Franchise Tax Board.". Democratic lawmakers have asked the governor to reduce the furloughs by one day in part to address concerns about losing revenue. (KCRA 3, CA)
Kirk J. Stark: Stretch out taxes on capital gains to ease the state's boom-bust cycle Sep 6, 2009
Under current law, Mickey must remit this $2,000 to the Franchise Tax Board when he files his income tax return for the year in which he sells the stock ... Moreover, the Franchise Tax Board has experience with systems similar to this in the context of allowing taxpayers the option of converting regular IRAs to Roth IRAs and paying the resulting tax over a four year period. (Sacramento Bee -- Opinion)
Rounds says budget crunch worsening Sep 5, 2009
That includes the sales tax, contractor's excise tax, bank franchise tax, insurance company tax and video lottery. Dilges said he hopes tax collections will begin to rise by the next budget year, but he doubts the sales tax will return to its traditional 5 percent growth by then. (Sioux City Journal, IO)
Progress being made toward taming Los Angeles wildfire Sep 3, 2009
Schwarzenegger also said he was asking the Franchise Tax Board and the Board of Equalization to assist victims with tax extensions, and to provide relief from various late fees. An investigation was still under way to determine the cause of the fire. (Xinhuanet, China)
Study: Older Americans staying put in jobs longer Sep 3, 2009
About 4,000 more full-time workers drew state checks in June compared to a year before, with the biggest increases coming in prison hospitals, the state's unemployment agency and the Franchise Tax Board. Gov. Arnold Schwarzenegger has initiated the elimination of 7,000 s 00004000 tate jobs from the state's deficit-ridden general fund, but it is unclear whether that will offset the overall state job gains over the past year. (Fresno Bee -- Nation)
AG, grocers spar over CAT tax Sep 2, 2009
Making his first appearance before the state Supreme Court since taking office in January, Attorney General Rich Cordray argued the CAT is a franchise tax assessed for the privilege of doing business in Ohio ... Justice Maureen O Connor prodded the grocers argument, asking how the industry paid taxes before the CAT. Gosnell said it paid a corporate franchise tax based on net income or net worth ... Cordray also got his fair share from Justice Paul Pfeifer, who asked how the CAT could be... (Columbus Business First, OH)
Center To Aid Auburn Fire Victims 1hr Sep 1, 2009
Center To Aid Auburn Fire Victims - Sacramento News Story - KCRA Sacramento. Get Headlines Sent To Your Email Or Phone. (KCRA 3, CA)
Furloughs are lesser evil for state Aug 28, 2009
The latest challenges involve employees of the Franchise Tax Board and the state Department of Social Services. One set of employees contends that the furloughs will prevent them from collecting money on the state's behalf, while, ironically, the other group argues that the furloughs will hinder their ability to hand money out. (Fresno Bee)
State taxes going up because of deflation Aug 28, 2009
So each year, the California Franchise Tax Board adjusts tax brackets and certain deductions and credits for inflation ... The Franchise Tax Board has just released adjustments for 2009, and for the first time since 1983 they are down, reflecting a 1 ... A married couple with two dependents and $90,000 in income would pay $71 more, according to the Franchise Tax Board. (San Francisco Chronicle)
Furloughs to hurt tax collection, officials say Aug 27, 2009
Officials from Gov. Arnold Schwarzenegger's administration - from the Department of Finance, the Franchise Tax Board and the Board of Equalization - presented the state Senate Budget Committee on Tuesday with the estimated revenue losses due to the furloughs and budget cuts ... Furloughs at the Franchise Tax Board and budget cuts at the Board of Equalization account for only a fraction of the $1. (San Francisco Chronicle)
Session marred by lack of quality work product (295) Aug 24, 2009
Take, for example, a tax measure that will move up the filing date of general excise tax returns and those returns of related taxes such as the public service company tax and the bank franchise tax. Under the previous law, general excise tax returns and payments were required by the last day of the month following the reporting period. (Lihue Garden Island, HA)
Smoke screen about taxes Aug 23, 2009
Franchise Tax Board Advises Against Frivolous Tax Arguments. The Franchise Tax Board (FTB) outlined several arguments that are widely established as frivolous, and advised that using those arguments to avoid paying taxes could result in a penalty. (Fresno Bee -- Opinion)
State tax collectors go through furloughs, too Aug 18, 2009
That has been hard to do this fiscal year as a result of hiring freezes and forced furloughs at the Franchise Tax Board. As a revenue-collecting agency, the board argued that it should be exempt from the governor's furlough program, which requires many state workers to take off three days per month without pay. (San Francisco Chronicle -- Business)
Calif. fights 'frivolous' tax arguments Aug 18, 2009
Franchise Tax Board cracks down on 'frivolous' arguments - Silicon Valley / San Jose Business Journal ... Franchise Tax Board cracks down on 'frivolous' arguments. (San Jose Business Journal, CA)
Read 'Cost of Freedom' recap Aug 18, 2009
I have a friend who just got a letter from the state of California Franchise Tax Report. The state knew that she had bought a car a couple of years ago. (Fox News)
United Security Bancshares Releases 2nd Quarter Earnings in Challanging Economic Environment Aug 14, 2009
These factors include (1) changes in interest rates, (2) significant changes in banking laws or regulations, (3) increased competition in the company's market, (4) other-than-expected credit losses, (5) earthquake or other natural disasters impacting the condition of real estate collateral, (6) the effect of acquisitions and integration of acquired businesses, (7) the impact of proposed and/or recently adopted changes in regulatory, judicial, or legislative tax treatment of business... (PR Newswire)
Ex-girlfriend doubted Hawk rhetoric Aug 13, 2009
Heidi Gutierrez, a special agent with the Franchise Tax Board, testified about the tax records. 12:35 p.m.: HANFORD -- An attorney testifying in the David Hawk murder trial said he could have proved Hawk was misusing funds from his children's trust accounts if Hawk's ex-wife had not disappeared. (Fresno Bee)
First Bankshares, Inc., Parent of SuffolkFirst Bank, Reports Strong Tier 2 Capital of 15.19% After Recording a $444,000 Loss or 20 Cents per Share for Six Months Ending June 30, 2009 Aug 12, 2009
The primary reason for the increase can be attributed to the increase in professional fees of $520,867 for six months ended June 30, 2009, an increase of $12,569 in data processing cost, an increase in FDIC insurance expense of $111,132 which includes the increase in FDIC insurance coverage changing from $100,000 to $250,000 and the additional special assessment in the second quarter of 2009, an increase in the bank franchise tax expense of $23,000, and an increase of $379,175 for other... (PR Newswire)
California Q&A: State tax filers face big changes Aug 10, 2009
For example, a couple with two children making $100,000 a year will pay $670 more in the 2009 tax year (an extra $250 because of the increase in their tax rate and $420 more because of the lowered dependent care exemption, according to the California Franchise Tax Board ... Sources: California Department of Finance, Employment Development Department, Franchise Tax Board. (Fresno Bee -- State)
First Financial Service Corporation Announces Quarterly Results Aug 4, 2009
Keefe, Bruyette & Woods, Inc. FTN Midwest Securities J.J.B. Hilliard, W.L. Lyons Company, Inc. Howe Barnes Investments, Inc. Stifel Nicolaus & Company Knight Securities, LP FIRST FINANCIAL SERVICE CORPORATION Consolidated Balance Sheets (Unaudited) June 30, December 31, (Dollars in thousands, except share data) 2009 2008 ---- ---- ASSETS: Cash and due from banks $17,523 $17,310 Interest bearing deposits 2,513 3,595 ----- ----- Total cash and cash equivalents 20,036 20,905 ------ ------... (PR Newswire)
American National Bankshares Inc. Reports Second Quarter 2009 Earnings and Announces Third Quarter Cash Dividend Jul 23, 2009
American National Bankshares Inc. and Subsidiaries Consolidated Balance Sheets (Dollars in thousands, except share and per share data) Unaudited June 30 ASSETS 2009 2008 Cash and due from banks $13,905 $20,082 Interest-bearing deposits in other banks 26,879 8,265 Securities available for sale, at fair value 144,706 136,632 Securities held to maturity 6,712 9,828 Total securities 151,418 146,460 Loans held for sale 10,408 2,200 Loans, net of unearned income 557,042 568,830 Less allowance for loan... (PR Newswire)
First Defiance Announces 2009 Second Quarter Earnings Jul 21, 2009
Consolidated Balance Sheets First Defiance Financial Corp. (Unaudited) June 30, December 31, June 30, (in thousands) 2009 2008 2008 -------------- ---- ---- ---- Assets Cash and cash equivalents Cash and amounts due from depository institutions $31,606 $40,980 $44,621 Interest-bearing deposits 57,178 5,172 59 ------ ----- -- 88,784 46,152 44,680 Securities Available-for sale, carried at fair value 133,009 117,575 118,825 Held-to-maturity, carried at amortized cost 831 886 1,035 --- --- -----... (PR Newswire)
Legislative session reviewed Jul 21, 2009
House Bill 4765, which was signed by Gov. Rick Perry June 16, gives businesses which have a total revenue of $1 million or less a two-year exemption from the franchise tax. It goes into effect Jan. 1, 2010. (Port Lavaca Wave, TX)
Chairman of business journals dies of bee sting Jul 20, 2009
He also advises clients as to the federal income tax aspects of corporate, partnership and individual tax matters ; tax controversies and tax litigation at the state and federal levels; and state and local tax matters, including sales tax, franchise tax, margin tax and ad valorem tax. Tony is an excellent addition to our growing corporate practice in Houston, said Allan J. Reich , Chair of Seyfarth Shaw's Corporate ce Practice Group. (Fresno Bee -- Business)
Tax increase would stifle Illinois growth Jul 17, 2009
This is the economic equivalent of taking all the 2008 tax revenue from the sales tax, cigarette tax, liquor tax, inheritance tax, corporate franchise tax and fees and insurance taxes and fees and dumping that money into Lake Michigan. Not a smart move. (The Pantagraph newspaper)
> Home-building industry leaders say tax credit spurred buyers Jul 14, 2009
So on July 3, the Franchise Tax Board officially stopped accepting applications. But further investigation showed the fund has not been wiped out. (San Jose Business Journal, CA)
The Blog Watch Jul 12, 2009
The Franchise Tax Board announced it will accept state IOUs for payment of state personal income tax and corporate tax bills. Because the warrants are not redeemable until Oct. 2, the FTB will not cash them immediately but will consider the tax liability paid when the IOU is submitted. (Sacramento Bee -- Opinion)
Letters to Home and Garden Jul 11, 2009
Step 3: Mail check to Franchise Tax Board. Step 4: Double that amount next year and every year thereafter. (San Francisco Chronicle -- Opinion)
Big banks deny IOUs, scold state officials Jul 11, 2009
The state Franchise Tax Board announced this week that the state will accept IOUs as payment for personal and corporate income taxes. The reporter can be reached at or (916) 326-5541. (Fresno Bee -- Local)
Jindal OKs tax breaks for movies, music Jul 10, 2009
6 million in tax credits with the extension of a credit against corporate income tax and corporate franchise tax for certain companies doing research and development. -- Extension of an existing tax credit program for movie production companies. (WWLTV.com, LA)
Verizon reaches deal with Pittsburgh on cable service Jul 7, 2009
If the deal wins approval, it would bring in franchise tax revenue to the City. Comcast accounts for $4. (Pittsburgh Business Times, PA)
Tax refunds for Madoff victims? Jul 7, 2009
Even the Franchise Tax Board admits it's a "very burdensome" process. (State tax officials suggest that Ponzi victims seek advice from tax professionals. (Fresno Bee -- Business)
Air Force pilots relish tricky firefighting runs Jul 4, 2009
While the California Franchise Tax Board (FTB) projects $1. 9 billion in revenue for 2009-10 from this withholding, the reality is this is not new revenue -- just a scheme to extract money. (Fresno Bee -- Nation)
NET WORTH PLUS (sfgate.com/blogs/pender) State cuts off applications for... Jul 3, 2009
The California Franchise Tax Board stopped accepting applications for the credit at midnight Thursday ... The California Franchise Tax Board stopped accepting applications for the credit at midnight. (San Francisco Chronicle -- Business)
Pay cut better than no paycheck at all (395) Jun 29, 2009
Not so obvious taxes include the taxes on businesses such as the net income tax, the bank franchise tax, the public service company tax on public utilities, and the specific excise taxes on alcoholic beverages and cigarettes because those taxes are buried in the price of those specific products. While most of the proceeds from state taxes go into the state general fund, there are some taxes that are earmarked for specific purposes and, therefore, go into what are called special funds. (Lihue Garden Island, HA)
Income gap widens among state's taxpayers Jun 27, 2009
The nonprofit organization reviewed data from the Franchise Tax Board and found that from 2006 to 2007 personal income increased by $64 billion. However, more than 30 percent of that amount was earned by the richest 1 percent of taxpayers. (San Francisco Chronicle)
Scarnati: No tax increases Jun 27, 2009
He also proposed stopping the phase-out of the Capitol Stock and Franchise Tax, which would be another burden to job creators and, quite frankly, workers looking to find family-sustaining jobs. Scarnati also noted that the Senate passed its own proposed budget in early May, one that includes no new taxes and is fiscally prudent. (Wellsboro Gazette, PA)
Income gap widens in state Jun 27, 2009
The nonprofit organization reviewed data from the Franchise Tax Board and found that from 2006 to 2007 personal income increased by $64 billion ... Karen C. asks: "I recently resigned from a company in which I have a 401(k) plan. Funds were deducted... Advertisers Advertising Services: Reader Services: Company Info: Be the first to share your thoughts on this story. Share your thoughts on this story. - be the first to share your thoughts on this question. - Sorry, comments are closed for this... (San Francisco Chronicle -- Business)
Study: Most Californians Skipped Economic Boom Jun 26, 2009
Analysts said Franchise Tax Board data from 2006 and 2007 shows the wealthiest taxpayers are getting a larger share of total adjusted gross income in California. Meanwhile, the portion going to the middle-class is shrinking. (KSBW 8, CA)
Income gap widens among state's taxpayers Jun 26, 2009
The nonprofit organization reviewed data from the Franchise Tax Board and found that from 2006 to 2007 personal income increased by $64 billion ... The nonprofit organization reviewed data from the Franchise Tax Board and found. (San Francisco Chronicle -- Business)
More of this story... Jun 24, 2009
Part of the frustration was because the City Council passed a utility franchise tax in April 2004 that increased by 5. 9% over four years. (The Exeter Sun, CA)
Stimulus Money For Home Buyers Nearly Gone Jun 24, 2009
The Franchise Tax Board says as of mid-June it had received more than 9,800 applications that would drain $95 million of the money. The board is accepting 12,000 applications, anticipating some will be duplicates or invalid. (KSBW 8, CA)
State new-home tax credit running out Jun 24, 2009
As the credits run out, the Franchise Tax Board will being posting the number of applications received on its Web site. Once 11,000 applications are received, ftb. (Sacramento Business Journal, CA)
State cuts tax exemptions for kids Jun 23, 2009
The Franchise Tax Board is trying to get the word out, so families can prepare ... The Franchise Tax Board will not slap you with an underpayment penalty that results from this change on your 2009 taxes. (San Francisco Chronicle -- Business)
My View: Recent tax breaks for huge corporations must be revoked Jun 22, 2009
The vast majority of businesses in California will receive no benefit from the new method, and according to the state's Franchise Tax Board, 80 percent of the benefits will go to companies that gross more than $1 billion a year ... While the benefits of this tax change will be more broadly shared than the previous tax law changes, Franchise Tax Board data still show that corporations that gross more than $1 billion a year will claim four out of every 10 dollars of loss deductions. (Sacramento Bee -- Opinion)
Governor Rendell Discusses Impact of Budget on Services for Families of Children With Autism Jun 21, 2009
Governor Rendell recently proposed a temporary increase in Pennsylvania's personal income tax - currently the second lowest in the nation - and a temporary delay in the phase-out of the Capital Stock & Franchise Tax. Coupled with hundreds of budget reductions Governor Rendell has already implemented, these steps are critical in addressing a projected $3. (PR Newswire)
Governor Rendell's Statement on Budget Jun 18, 2009
First, unfortunately we must suspend the business tax cuts that were planned for this year known as the phase out of the Capital Stock and Franchise Tax. Since taking office, I have cut business taxes by $1. (PR Newswire)
Rendell wants income tax increase for next 3 years Jun 17, 2009
rainy day contingency fund, and postponing a planned phase out of the states corporate stock and franchise tax. An income tax increase will face a tough fight in the Legislature, where Republicans who control the state Senate have offered a state budget that relies on cuts rather than additional taxes. (Carlisle Sentinel, PA)
Texas law should reduce franchise taxes for small businesses Jun 17, 2009
Perry signed House Bill 4765 into law which more than triples the small-business franchise tax exemption from $300,000 a year in revenue to $1 million a year in revenue. Businesses earning less than $1 million each year will now be exempt from franchise taxes ... The legislation modifies the franchise tax law that went into effect in 2006. (San Antonio Business Journal, TX)
Rendell's proposal to raise tax rate faces a huge fight Jun 17, 2009
In addition to the higher PIT, Mr. Rendell yesterday also called for a three-year suspension of the scheduled phaseout of the state's Capital Stock and Franchise Tax, a levy on business assets. Its current rate is 1. (Pittsburgh Post-Gazette, PA)
Concerned citizens group to march on City Hall Jun 16, 2009
And it wants to repeal the recent sewer rate increase and the franchise tax. . (Bogalusa Daily News, LA)
Marlins ballpark financing pushed back Jun 16, 2009
The change would require an amendment to the bond ordinance that allowed the county to issue Professional Sports Franchise Tax and Tourist Development Tax bonds. County commissioners will get a chance to consider the changes at a special meeting on June 19. (South Florida Business Journal, FL)
New threshold exempts more businesses from margin tax Jun 6, 2009
The margin tax, which replaced a state franchise tax, hasn t produced as much revenue as originally projected, and now will have fewer businesses paying into it than its predecessor did, Craymer said. That s contrary to its original purpose: to spread the tax burden across a greater range of businesses. (Austin Business Journal, TX)
