Tax News

CCH (cch.taxgroup.com) reports:

  The California Franchise Tax Board (FT has released its annual federal conformity report, which outlines the Internal Revenue Code provisions enacted or amended in 2008, discusses California's corresponding corporation franchise and income tax and/or personal income tax law, and estimates the revenue impact if California were to conform to the amended or enacted federal provision. The federal legislation analyzed includes the following:

  -- the Economic Stimulus Act of 2008;

  -- the Heartland, Habitat, Harvest and Horticulture Act of 2008;

  -- the Heroes Earnings Assistance and Relief Act;

  -- the Housing and Economic Recovery Act of 2008;

  -- the Emergency Economic Stabilization Act of 2008; and

  -- the Worker, Retiree, and Employer Recovery Act of 2008.

  Subscribers can view the FTB's 2008 federal conformity report.
 
Announcement , California Franchise Tax Board, March 24, 2009