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December 2018 Archives

California's New 2019 Rules for Sales & Use Tax for Out-of-State Businesses

The California Department of Tax and Fee Administration (CDTFA) announced this week that, starting April 1, 2019, out-of-state retailers whose sales for delivery into California exceed $100,000 or 200 deliveries will be required to register with California and collect and pay over sales tax. Businesses that meet these thresholds for a single local jurisdiction will also need to collect and pay over that district's use tax, in addition to the state tax.

California Fund Manager Sentenced to Prison for Fraud and False Tax Return

A 74-year-old former fund manager who resided in San Francisco was recently sentenced to 30 months in prison for investment adviser fraud and filing a false income tax return that failed to report millions of dollars in illegally diverted funds. The California resident moved funds between several entities related to Burrill Capital, LLC, using advance management fees he was not permitted to draw. His accountant was convicted of assisting with the filing of the false income tax return and will be sentenced soon.

TIGTA Releases Semi-Annual Report to Congress

The Treasury Inspector General for Tax Administration (TIGTA) recently released its semi-annual report to Congress on federal tax administration for the period from April 1 through September 30, 2018. A major highlight during this period was TIGTA's success protecting taxpayers from IRS impersonation scams: As of the end of the reporting period, 130 individuals have been charged for their roles in a massive phone scam involving multiple India-based call centers. Twenty-one of those individuals have been sentenced to prison sentences of up to 20 years each, and all are jointly and severally liable for over $8.9 million in restitution.

California Assembly Members File Competing Bills Following California Supreme Court Dynamex Decision

I often think of the worker classification case I was involved with as a new attorney at the Employment Development Department. One of my witnesses, an independent contractor truck driver, testified that he netted over $30,000 more per year than I was grossing as a state attorney. I realized at that moment that I was involved in restricting this gentleman from engaging in a lawful business which worked very well for him. The California legislature may soon be faced with a similar burden.

California Updates 2018 Tax Rates and Exemptions

The California Franchise Tax Board (FTB) recently updated its list of individual and corporate tax rates, exemption credits, and other fees and requirements for 2018, based upon the state rate of inflation. The current California tax rate for corporations (not banks or financials) is 8.84%, and the maximum rate for individuals is 12.3%. For additional details, click here.

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