Abusive California tax shelters exposed.

PositionFTB NEWS

The FTB has become aware of transactions involving apportioning corporate taxpayers that use one or more partnerships to improperly inflate the denominator of the California sales factor, thereby reducing the amount of business income apportioned to California for franchise or income tax purposes. In response the FTB has released Notice 2011-01 (www.calepa.org/FTB11-01), which alerts taxpayers and their representatives that these transactions are tax avoidance...

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