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Tax Fraud Prevention Surpasses $6 Billion as California Strengthens FTB Enforcement
California has prevented more than $6 billion in tax fraud over the past eight years, according to an announcement from Governor Gavin Newsom’s administration. The California Franchise Tax Board reported that its tax fraud prevention and detection operations protected more than $579 million in state revenue from improper refunds during fiscal year 2024-25 alone. The […]
PTE Tax Rules Create New Compliance Pressure for California Businesses in 2026
California businesses operating as partnerships, limited liability companies, and S corporations continue navigating important changes involving the state’s elective Pass-Through Entity program. The election allows qualifying entities to pay California income tax at the entity level, with owners generally receiving a corresponding credit for their share of the tax paid. For 2026, payment timing remains […]
California Interest Rate Remains at 7% Through December 2026
California taxpayers and businesses continue to face a 7% interest rate on certain unpaid state tax obligations for the second half of 2026. The Franchise Tax Board has confirmed that the rate applies from July 1 through December 31, 2026, covering personal income tax, corporate income tax, and franchise tax obligations. The California interest rate […]
FTB Legal Ruling 2026-01 Clarifies California Trust Tax Rules in 2026
The California Franchise Tax Board has issued Legal Ruling 2026-01, providing new guidance on how California tax law applies to contingent beneficiaries of discretionary trusts. Released July 7, the ruling addresses Revenue and Taxation Code Section 17742 and examines when a resident beneficiary’s interest in a trust is considered contingent or non-contingent. The guidance is […]
Residency Audits Intensify as California Billionaire Tax Debate Moves Forward in 2026
California’s proposed billionaire tax is putting renewed attention on one of the state’s most closely examined tax questions: whether an individual was actually a California resident when a tax obligation arose. As the initiative moves toward a potential November vote, wealthy taxpayers who say they relocated before the proposed tax’s January 1, 2026 valuation date […]