Governor Jerry Brown on September 23 signed CalTax-sponsored legislation establishing a process for taxpayers to report and pay California taxes resulting from federal partnership audit adjustments in a way that facilitates tax administration for the Franchise Tax Board, and eases reporting compliance for taxpayers (SB 274, Glazer).
CalTax led a coalition in support, and the legislation did not receive any votes in opposition.
In a letter to the governor, CalTax President Teresa Casazza said SB 274 is “a good government measure that authorizes the FTB to collect taxes that are owed; establishes a reporting and payment structure that mitigates workload for both the FTB and taxpayers; and provides a model construct for other states to promote uniformity ….”
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