Tax & Accounting Blog

California Announces 2011 Budget With Several Tax Implications

California’s new Governor, Democrat Jerry Brown, recently revealed his planned 2011 budget. With the state operating with more than a $25 billion deficit, Brown has proposed several items aimed at stabilizing the state economy. Most notably amongst his proposal items is $12 billion in additional taxes comprised largely of revenues stemming from extensions to the temporary tax increases from 2009. One … Read More

California: New Fee on Delinquent Taxpayers Effective January 1, 2011

California: New Fee on Delinquent Taxpayers Effective January 1, 2011

Beginning this week thousands of California businesses will be assessed a fee based on past due sales tax liabilities. More than 90,000 notifications were mailed out beginning January 1ST. The fee amount ranges from $185 to $925 for this calendar year. Liability SizeLiability AmountFeeSmall$250.01 – $2000$185Medium$2000.01 – $50,000$550Large$50,000 +$925 Taxpayers can avoid paying the fee by … Read More