Time may not be right to sell off landmarks Jun 5, 2009
-- Franchise Tax Board Complex, Sacramento. Estimated value: $396. (San Francisco Chronicle -- Business)
States taxing bodies look to consolidate Jun 4, 2009
The Franchise Tax Board collects personal, corporate and bank taxes in California. Reader Comments. (Sacramento Business Journal, CA)
Kolkhorst accomplishes much of agenda Jun 4, 2009
Crafted tax relief bill (House Bill 2505) to raise the small business exemption to 1 million, which was later included in a larger franchise tax reform bill. Wrote major reforms to the Texas Economic Development Act (Chapter 313), to open the tax abatement application process to the public. (Brenham Banner, TX)
Call to close 'Delaware Loophole' resumed Jun 4, 2009
Pennsylvania Senate Democrats unveiled a plan to balance the state budget on Wednesday that would target the so-called Delaware Loophole and extend the scheduled phase-out of the Capital Stock and Franchise Tax ... Under the Senate Democrat plan, elimination of the Capital Stock Franchise Tax, due to occur in 2011, would be spread over a three-year period reduced from 1. (Philadelphia Business Journal, PA)
Local Used Car Dealer Faces Tax Fraud Charges Jun 4, 2009
Yousef Hoodneh, 60, faces two felony counts of state income tax fraud, according to the Franchise Tax Board. Hoodneh is listed as the corporate officer of the Flamingo Car Group Inc. and Flamingo Automotive Inc., at 9485 Black Mountain Road, according to the state tax agency. (TheSanDiegoChannel.com, CA)
Missouri revenue down in 45% in May Jun 4, 2009
Corporate income and corporate franchise tax collections Decreased 13. 2 percent for the year, from $523 million last year to $453. (St. Louis Business Journal, MO)
Iowa's revenue takes double-digit plunge in May Jun 2, 2009
May also saw double-digit revenue declines in corporate income, tobacco and franchise tax receipts, and sales and use tax collections were flat despite a limited rate increase in one sector that was expected to generate positive results, he said. Robinson said he expected June tax receipts to continue the negative trend of the past two months. (Sioux City Journal, IO)
State Legislature: Senate acts to save key legislative bills Jun 2, 2009
That means businesses that gross less than a million dollars a year would be exempt from the franchise tax for the next two years. Patrick says this would exempt nearly 40,000 businesses that paid the tax last year, saving a total of 170 million in taxes over the next biennium. (McKinney Courier-Gazette, TX)
Dont close state parks Jun 2, 2009
The only state agency that makes a profit is the Franchise Tax Board. Our parks provide income, jobs and the last chance for people to feel close to nature in this high-tech, artificial society. (Fresno Bee -- Opinion)
House Votes To Give Texas Businesses A Tax Break May 30, 2009
Proposed changes to the state's franchise tax, which were approved in a 144-1 House vote Friday, go to Gov. Rick Perry, who has said he wants a tax cut for small companies ... Rene Oliveira, a Brownsville Democrat who sponsored the measure in the House, says the Legislature in the near future needs to revisit the entire franchise tax. (KWTX.com, TX)
State Representative Reflects on Session May 29, 2009
The bill eliminates the franchise tax for businesses with assets of less than $10 million. Previously, small businesses with assets less than $1 million were taxed. (Missourian Publishing, MO)
Stadium bonds maintain high rating May 28, 2009
The county plans to begin sales of bonds associated with the Professional Sports Franchise Tax, Tourist Development Tax and Convention Development Tax in early June. Solid ratings are important to get construction of the 37,000-seat retractable-roof stadium accomplished because higher ratings come with lower interest rates. (South Florida Business Journal, FL)
Home construction up 21% in April May 27, 2009
for free extra services. Subscribe to Silicon Valley / San Jose Business Journal. (San Jose Business Journal, CA)
Griesheimer Champions Two Bills Aimed to Aid Businesses, Unemployed May 21, 2009
The bill also would apply the Sunshine Law to the credits and phase out corporate franchise tax on a number of businesses. Currently, a business with assets of $1 million or more triggers the tax. (Missourian Publishing, MO)
Lawmakers eye adds to new-home tax credit May 14, 2009
The California Franchise Tax Board estimates that almost one-fourth of the people who buy a qualified new home won't get any credit because they owe no state income tax ... Source: California Franchise Tax Board. (San Francisco Chronicle -- Business)
Bill raising franchise tax exemption moves to Senate May 14, 2009
The 2005 Legislature, in its third called session, revised the states franchise tax by basing it on gross margins and businesses with total revenue of less than 300,000 were exempted from paying the tax. In 2007, the Legislature enacted a sliding scale of franchise tax discounts for businesses with revenue between 300,000 and 900,000. (Boerne Star, TX)
Bookkeeper sentenced for embezzlement May 13, 2009
Anne Louise Asperger also was ordered to pay the State Franchise Tax Board $33,926 for taxes owed on the embezzled monies and $333,103 ... The State Franchise Tax Board helped build the case by investigating Asperger s past state tax returns. (Sacramento Business Journal, CA)
Photo by MIKE PROBST May 9, 2009
One of the first pieces of legislation Hunter filed this session was House Bill 1220, aimed at relieving the burden of the state s franchise tax on small businesses. The bill would have exempted businesses with revenues of less than $1 million from paying the state s franchise tax, up from the current $300,000 threshold ... I campaigned on a promise that I would work to bring tax relief to our small business owners who have been unfairly burdened by the state s franchise tax enacted in the 80th... (Rockport Pilot, TX)
State Legislature: Public school accountability plan passes Senate May 7, 2009
Combs also noted this week the nearing deadline for franchise tax, due May 15. Franchise tax forms and general information are available at. (McKinney Courier-Gazette, TX)
Council approves funding for Morriss, other road projects; late alcohol sales denied May 6, 2009
According to the Texas Comptroller of Public Accounts and the Texas Secretary of State, Mr. Hayden was the president of Heritage Asset Advisors, LLC and Chaparral Capital Management, LLC. Both Heritage and Chaparral have surrendered or forfeited their charters and are no longer in good standing with the state of Texas as they have not satisfied all franchise tax requirements ... There were no franchise taxes due because the business ceased to operate. (McKinney Courier-Gazette, TX)
House OKs Bill Giving Small Texas Companies State Business Tax Break May 5, 2009
The tax, which businesses are paying for just the second time, was designed to fix the state's franchise tax and school funding system, but small businesses have complained that the tax is hitting them especially hard. After a chorus of complaints from the business community, the plan by Rep. (KWTX.com, TX)
Walker would change Doyle tax, budget policies May 2, 2009
Walker would eliminate Doyle s oil franchise tax, which he said would create problems for companies such as the La Crosse-based Kwik Trip, which has 5,400 employees, including about 1,000 in the Coulee Region ... ClassWarrior wrote on May 2, 2009 1:31 AM:" Regarding: "Walker would eliminate Doyles oil franchise tax, which he said would create problems for companies such as the La Crosse-based Kwik Trip, which has 5,400 employees, including about 1,000 in the Coulee Region ... "So, Walker will... (La Crosse Tribune, WI)
Editorial: High school reform on track May 2, 2009
Students are running a campus store and, every year, work with their partner, the Franchise Tax Board, to do community service by helping people complete their tax forms. The district also has opened five small, stand-alone high schools with no more than 500 students each. (Sacramento Bee -- Opinion)
Turnpike team faces 2 incomplete projects May 1, 2009
Turnpike officials yesterday floated ideas to generate more public funding, including lifting a cap on the state's Oil Company Franchise Tax (essentially a gasoline tax increase that would be mostly borne by motorists) or seeking funding in the upcoming federal surface transportation authorization bill. But some of the state lawmakers in the room said they expected the Legislature to be too consumed by closing a projected $3 billion budget deficit to raise new money for transportation projects. (Pittsburgh Post-Gazette, PA)
Sacramento woman sentenced for embezzling Apr 30, 2009
Goodenough also was ordered to pay restitution of $225,000 to her former employer and $25,900 to the state Franchise Tax Board, a news release said. Between Jan. 1, 2007 and May 27 of last year, Goodenough issued herself checks from , and then cashed them at three separate check cashing companies. (Sacramento Business Journal, CA)
City: State forced Web archive removal Apr 28, 2009
The decision to remove information from the Web site stems from the June 2007 decision by the state Elections Division to fine three city employees a total of 425 for violating elections laws by using taxpayer time and money to advocate for the unsuccessful cell-phone franchise tax ... One 2007 violation that the state elections officials noted was the city s statement that the City Council voted unanimously to support the cell phone franchise tax. (Corvallis Gazette Times, OR)
Read 'The Cost of Freedom Recap' Apr 28, 2009
Ben Stein: Information gathering by tax authorities like the California State Franchise Tax Board, have gone way beyond what is appropriate. But this isn t just a state problem, it is a national problem. (Fox News)
Going green in Lodi (3) Apr 28, 2009
dogs4you wrote on Apr 25, 2009 11:34 AM:" PG&E also pays Lodi a franchise tax, for every foot of gas pipe in the ground a tax is paid. Stockton receives millions of dollars from the company every year as part of that franchised tax. One reason Stockton chose to keep PG&E as their electric provider. The company also pays for the licence plate tag on all their vehicles, not excempt like the city and state vehicle`s, and is regulated by the CPUC, where as Lodi and other small cities can raise rates... (Lodi News Sentinel, CA)
TAXES: State law seeks to shame delinquents into paying up Apr 19, 2009
Last week, the Franchise Tax Board posted a list on its Web site that names 250 individuals and corporations it says owe the most in income taxes for 2007 and prior years ... Stanczyk said the IRS had agreed to take a second look at Atnip's case and hopes the Franchise Tax Board will do the same. (North County Times)
Budget crunches sharpen political differences in state tax fights Apr 17, 2009
Republican Legislature debating elimination of business franchise tax on companies with revenue under $1 million. By Dennis Cauchon, USA TODAY Democrats in state legislatures are seeking to raise taxes on the rich, and Republicans are trying to cut taxes for business a replay of the fierce budget battles that have divided Congress. (USA Today)
Lawmakers looking to give tax relief to businesses Apr 16, 2009
The new business tax was intended to overhaul the state s old franchise tax, which was so full of loopholes it was widely considered an optional tax. Lawmakers spent years trying to fix it, but stumbled over how to structure a new tax within legal constraints that would apply equally to different business structures. (KHOU.com, TX)
Roanoke Rapids City Manager Phyllis Lee's Budget Letter Apr 16, 2009
Other major sources of Combined General Fund revenue projected for Fiscal Year 2009/10 include Powell Bill 464,370, Utility Franchise Tax 950,000, Cable Franchise Fees 120,000 and combined grant and donation revenues of 152,017. Expenditures. (Roanoke Rapids Daily Herald, NC)
Students Help Late Tax Filers Apr 16, 2009
Luckily for those who were cutting it close and needing help figuring out the forms, the Franchise Tax Board set up Volunteer Income Tax Assistance sites throughout the state. One was at San Francisco State University, where business students helped their classmates and others with last-minute preparations. (San Francisco Chronicle -- Business)
Guess Jeans Co-Founder To Run For Governor Apr 14, 2009
Harrell said Marciano is now a real estate investor who has dealt with the California Department of Justice and state Franchise Tax Board as part of his business. He was last in the news in 2007, when he bought what then was the largest top-quality, brilliant-cut white diamond ever to appear at auction. (San Francisco Chronicle -- Politics)
Tips for those who can't pay their taxes Apr 14, 2009
If you don't file your state taxes by Wednesday, the Franchise Tax Board will automatically grant you an extension until Oct. 15 ... The amount will probably be smaller and "the IRS is a lot more accommodating" than the Franchise Tax Board, Appelman says. (San Francisco Chronicle -- Business)
Md. tax collections fall by $65M in March Apr 14, 2009
State income, sales, lottery and franchise tax money all dropped in March. Partially offsetting those losses, alcohol and tobacco tax collections climbed 1. (Baltimore Business Journal, MD)
Comptrollers office schedules free webinar to help file franchise (41) Apr 13, 2009
Published: Sunday, April 12, 2009 1:06 AM CDT An overwhelming response from franchise taxpayers has prompted Texas Comptroller Susan Combs to offer another free Webinar to help taxpayers and practitioners complete and file 2009 franchise tax reports ... Some common errors last year pertained to deductions from revenue and filing incorrect public information reports submitted with the franchise tax return. (Boerne Star, TX)
Bill Requiring Dog Owners/Breeders to Get a License Discussed At HSUS Lobby Day (18) Apr 13, 2009
- Oil Company Franchise Tax haven t seen or heard from anyone who doesn t think this tax will end up being paid by the public through higher tax prices ... David Cramer, president and CEO of United Cooperative in Beaver Dam, said the oil company franchise tax in Doyle s budget boils down to just another tax on individual rural Wisconsin residents if it is passed into law. (Agri-View, WI)
Spears walks off stage to protest smoke Apr 11, 2009
They are among the state's biggest tax scofflaws, the Franchise Tax Board reported yesterday. Sinbad owes $2. (Honolulu Advertiser)
Hollywood celebrities among those evading tax Apr 11, 2009
This year's ranking includes 250 names, among them a few are famous or local notables, but most are low-profile individuals and businesses, according to the report citing the state's Franchise Tax Board. John Chiang, California's state controller and chairman of the Franchise Tax Board, said the annual list, intended to pressure those with large bills to pay up before the April 15 tax deadline, represents only a fraction of the 6. (Xinhuanet, China)
Sinbad, Dionne Warwick make tax-evader list Apr 10, 2009
They are among the state's biggest tax scofflaws, according to a report issued Thursday by the Franchise Tax Board. Sinbad owes $2. (MSNBC -- News)
FTB: Calif. Man Owes Nearly $10M In Taxes Apr 10, 2009
-- The Franchise Tax Board released its annual list showing the 250 largest unpaid state income tax delinquencies, which includes one man who owes nearly $10 million in personal income tax. The California board is required by the state to post the list of the 250 largest state income tax debtors who owe more than $100,000 every year. (KSBW 8, CA)
Area companies among largest tax debtors Apr 10, 2009
Two Sacramento companies and an individual are on the California Franchise Tax Board s list of 250 largest tax debtors made public Thursday. The FTB by law is required to post an annual list of the largest state income tax debtors who owe more than $100,000. (Sacramento Business Journal, CA)
Folsom Lake College to host career expo Apr 10, 2009
Employers scheduled to attend include the Federal Bureau of Investigation, the Folsom Police Department, the state Franchise Tax Board, department store chain , and financial services company. Folsom Lake College also anticipates more than 25 agencies seeking volunteers, college spokesman Scott Crow said. (Sacramento Business Journal, CA)
Still time to use tax tips before April 15 Apr 7, 2009
Call the Franchise Tax Board at (800) 852-5711 or wait until state tax officials contact you or your tax preparer. Beware of tax scams. (Fresno Bee -- Business)
Hawaii will post list of biggest tax scofflaws on new state Web site Apr 6, 2009
The California Franchise Tax Board began posting the names of the state's top 250 tax derelicts in 2007 and deems the program a success. "This year, we're very pleased," said tax board spokesman John Barrett, explaining that legislators hoped to collect $5 million annually when they enacted the program. (Honolulu Advertiser)
LETTERS: NCT, March 24, 2009 Mar 24, 2009
workers," March 13).I wonder if anyone in Sacramento realizes that the Board of Equalization employees audit and collect sales taxes owed but not paid by business. Do they know that each auditor enriches the state's funds by more than they earn each year? I don't recall if the Franchise Tax Board is also included, but I would assume they are. That board audits submitted income tax forms but I don't know if they bring in more than they cost. They probably do.If anyone in either department is... (North County Times)
Kolkhorst files pair of bills Mar 18, 2009
To address concerns about the recently revised business franchise tax, Kolkhorst also filed House Bill 2505. If passed, the legislation will raise the small business exemption to 1 million, cut the margins tax rate for all businesses by 25 percent and increase the deductions a business can make against their revenue. (Brenham Banner, TX)
Jackson Hewitt Partnership Puts Earvin 'Magic' Johnson in a League With Financial Predators Mar 18, 2009
SAN FRANCISCO, March 17 /PRNewswire-USNewswire/ -- The California Reinvestment Coalition, Woodstock Institute, Neighborhood Economic Development Advocacy Project and the Community Reinvestment Association of North Carolina are calling on Earvin "Magic" Johnson to stop promoting predatory tax refund anticipation loans this tax season as part of his partnership with Jackson Hewitt, the franchise tax preparer notorious for preying on low-income people. Tax refund loans particularly target... (PR Newswire)
Audit shows positive financial health Mar 12, 2009
Sales and use tax accounted for 49 percent of the city s revenue while property taxes were 15 percent; service charges were 14 percent; utility and franchise tax was 11 percent; other revenues made up 9 percent and 2 percent came from grants and contributions. The report showed that the cost of providing all government activities was 3,380,307, an increase of 187,030 from the previous year. (Forest Scott County Times, MS)
California's Consumer Chief Resigns Mar 6, 2009
Rosario Marin heads the agency that oversees the Franchise Tax Board and the Department of Consumer Affairs. She quit her $175,000 position on Thursday, sending a resignation letter to the governor. (KCRA 3, CA)
Mo. revenue collections down Mar 5, 2009
Corporate income and corporate franchise tax collections. Decreased 7 percent for the year, from $316. (St. Louis Business Journal, MO)
Bill would amend franchise tax for CRE Mar 4, 2009
Florence Shapiro, R-Plano, has filed legislation that would exclude pass-through payments from the state s 2007 revised franchise tax. Also refered to as the margin tax, the revised franchise tax currently includes pass-through payments in a commercial landlord s total taxable revenue ... The bill, SB 1221, would amend the tax code to exempt from total revenue the payments a landlord of commercial property receives from a tenant for property taxes, franchise taxes, insurance premiums and... (Austin Business Journal, TX)
Job fair to connect employers with engineers Mar 3, 2009
Agencies and companies signed up to attend Friday s event include the U.S. Bureau of Reclamation, the California Franchise Tax Board, , Composite Engineering, , Northrop Grumman and Sacramento Regional Transit. Companies are hiring for a variety of reasons, from new contracts and government spending to expanding international markets and increased defense spending, Mattiuzzi said. (Sacramento Business Journal, CA)
Guv Appoints Several To Highly Paid Posts Mar 1, 2009
George Runner, has announced his candidacy for the state Franchise Tax Board in 2010. The Schwarzenegger appointments also included Michael Prosio as the governor's deputy chief of staff and legislative secretary. (San Francisco Chronicle -- Politics)
Farmworkers Oppose Guv's Appointee Feb 28, 2009
Her husband has announced his candidacy for the state Franchise Tax Board in 2010. Runner's appointment was one of several announced by Schwarzenegger on Friday. (San Francisco Chronicle -- Politics)
House Votes to Cut Tax on Business Assets Feb 28, 2009
Since 1917, Missouri has charged a franchise tax on corporations' assets, inventory and property, although the state has been gradually reducing the tax rate and exempting smaller businesses. The franchise tax is levied on any corporation worth at least $1 million ... At least one lawmaker said that simply cutting the franchise tax is bad policy but that she would support it this year because of the dire economic times. (Missourian Publishing, MO)
New-Home Buyers' Big Break Feb 27, 2009
Starting Friday, the Franchise Tax Board will keep track on its Web site ( ). The credit is $10,000, or 5 percent of the home's purchase price, whichever is less. (San Francisco Chronicle -- Business)
Home tax credit set to kick in Feb 26, 2009
A $10,000 state tax credit for new homebuyers in California will begin for people who close escrow on or after Sunday, the California Franchise Tax Board announced. "The date sold is the date of the close of escrow," said FTB spokeswoman Brenda Voet. (Fresno Bee)
City missing share of $2.5M in unpaid taxes Feb 25, 2009
The rest of the money is split between other taxes such as special fuel, withholding, finance, corporate and franchise tax. District Attorney Dee Bates said paying taxes is not just an obligation, it's the law. (Brookhaven Daily Leader, MS)
Details of state, federal tax changes Feb 22, 2009
Within one week of the sale, the seller must certify to the California Franchise Tax Board that the home was new and unoccupied. The state has set aside $100 million for this program and will dole it out on a first come, first served basis. (San Francisco Chronicle -- Business)
Largest Calif. state union reaches contract deal Feb 15, 2009
The only raises under the new contract would be 50-cent-an-hour boosts for a few seasonal clerks at the Franchise Tax Board, which collects state income taxes. The deal would also freeze employee health contributions at 2008 levels. (Fresno Bee -- State)
Dan Walters: Corporate tax sweetener to seal deal? Feb 11, 2009
The Franchise Tax Board has contended it would be a loss, but advocates say it would be a gain because California would become more attractive to job-producing investment. Two years ago, a version of the "single sales factor" bill was attached to the final deal on the state budget, but, under fire from liberal groups, was rejected in the state Senate. (Sacramento Bee -- Opinion)
United Security Bancshares - $4.1 Million Net Income for 2008 Feb 10, 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)
Rendell unveils Pa. 2009-10 budget proposal Feb 8, 2009
The state s businesses would see the continued phase out of the capital stock and franchise tax. But make no mistake, Rendell warned: Pennsylvania, like other states, faces a challenging year. (Philadelphia Business Journal, PA)
