Robin Klomparens
On July 10, 2023, California’s governor signed into law Senate Bill 131 which in essence closes a loophole under California’s state income tax law for trusts that are referred to as Incomplete Gift Non-Grantor Trusts, (“INGs”). A new section 17082 will be added to the California Revenue and Taxation Code to reflect this change. How an ING […]
READ MOREOn November 3, 2020, California voters approved Proposition 19 which brings substantial changes to California’s property tax assessment rules and will greatly impact property tax planning for parents and children. Property owners wishing to avoid Proposition 19 must make transfers by February 15, 2021. A. Current law under Propositions 13 and 58 – effective through […]
READ MOREA protective claim for refund may be filed by or on behalf of a taxpayer if the resolution of a tax refund claim is contingent on future events and may not be determinable until after the time period for filing a claim for refund expires. Protective claims are often based on current litigation or expected […]
READ MOREGovernor Gavin Newson is fully expected to sign Assembly Bill 5 (AB 5) into law this month and it will significantly affect any business who utilizes independent contractors in California. The Bill was passed by the California Senate on September 10th and the California Assembly on September 11th. Once signed, it will take effect January 1, […]
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