Matthew D. Carlson
The Qualified Opportunity Zone program was enacted through the Tax Cuts and Jobs Act of 2017. The Department of Treasury has provided guidance concerning the tax incentives available under this program through two tranches of Proposed Regulations released in 2018 and 2019. The Internal Revenue Code and Proposed Regulations have strongly encouraged that Opportunity Zone investments be […]
READ MOREOriginally published in the California Business Law Reporter – March 2019 – Volume 40 – Number 5. Introduction One of the most frequently asked questions we encounter in our practice is whether a Belan. Clients usually want to avoid the necessity of paying the minimum franchise tax of $800 in California, filing tax returns […]
READ MOREEffective January 1, 2019, the Franchise Tax Board (“FTB”) has the authority to administratively dissolve suspended entities. The FTB’s new procedures are available for both qualified domestic corporations as well as qualified domestic limited liability companies (“LLCs”). Assembly Bill No. 2503 (“AB 2503”) was approved by Governor Brown on September 22, 2018, and authorized the […]
READ MOREBack in August, we announced that WKBK&Y attorney Matthew D. Carlson (member of the Taxation Section of the CLA, and Vice Chair of the Income and Other Tax Committee) and other members of the California Lawyers Association Taxation Section had submitted comments to the IRS and Treasury regarding proposed regulations under IRC § 6695(g), Tax Return Preparer Due […]
READ MOREMembers of the Taxation Section of the California Lawyers Association (“CLA”) are pleased to submit these comments on proposed regulations under IRC § 6695(g), Tax Return Preparer Due Diligence Penalty under Section 6695(g). These comments were prepared by Kevan P. McLaughlin, Chair of the Taxation Section’s Tax Procedure & Litigation Committee, Brian M. Katusian, Vice […]
READ MORE