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California Tax Review

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First-Time Penalty Abatement Rules

Posting by Joseph Zimmerl

The First-Time Penalty Abatement Waiver or FTA Waiver is an Administrative Waiver, which provides taxpayers relief from certain assessed penalties. The purpose of the FTA Waiver is to allow taxpayers, who normally comply with tax requirements, receive a single tax period penalty abatement for failure to file, pay or deposit their taxes.   

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CA Supreme Court Applies Documentary Transfer Tax To Legal Entity Transfers

Surprisingly, the California Supreme Court has held that the Documentary Transfer Tax--that has historically only been applied when deeds were recorded affecting real property ownership changes--can now be applied to any transfer of a legal entity interest which would constitute a reassessment of the underlying property for Proposition 13 purposes.  (See 926 N. Ardmore Ave. V. County of L.A., 2017 Cal. LEXIS 4768.)

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Legislature Terminates the Board of Equalization

A potential sweeping change was made to California tax law and policy when the legislature passed AB 102, the Taxpayer Transparency and Fairness Act of 2017.  This act divests the Board of Equalization of several key functions and creates two new government tax agencies--the Department of Tax and Fee Administration an the Office of Tax Appeals.  

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The Increased Price of Gas: The Gas Tax

By Joseph Zimmerl:  Anyone who drives in California knows that gas here is expensive. If you have ever driven to Oregon, Nevada or Arizona you may have also noticed that gas there is much cheaper. In fact, the price of gas in California is 60¢ higher than the national average of $2.40.  As of April 17, 2017, Californians pay on average $3.00 per gallon. The only other state where gas is more expensive is Hawaii, where the average per gallon price is $3.06. 

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