Month: December 2020

The Long Arm of California’s Franchise Tax Board

December 12, 2020
Police Officer with whistle

In two recent decisions, both of which will be precedential, the California Office of Tax Appeals (OTA) ruled against taxpayers and in favor of the California Franchise Tax Board (FTB), as the FTB demonstrated its long reach when it comes to collecting taxes. In its opinion in The Matter of the Appeal of Aroya Investments…

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Section 1202 Qualified Small Business Stock Benefits Revisited

December 11, 2020
Section 1202 Qualified Small Business

As we make it through 2020 and into 2021, one should consider revisiting the choice of entity in ascertaining which type of business entity is the best entity for a client’s particular needs. Historically, flow-through entities such as partnerships, limited liability companies and S corporations have prevailed over C corporations. Generally, this is a good…

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California 1031 Exchange Scoreboard: TAXPAYERS 3 – FTB 1

December 10, 2020

In recent years, the California Franchise Tax Board (the “FTB”) has become known for auditing like-kind exchanges under IRC Section 1031. A scenario frequently challenged by the FTB is known as a “drop & swap.”  In that situation, an entity taxed as a partnership (such as an LLC or limited partnership) transfers an undivided interest…

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SB 1383: California Family Rights Act | Complimentary Zoom Webinar on December 10, 2020

December 8, 2020
Scales of Justice in Courtroom

California Senate Bill (SB) 1383 has been signed into law by Governor Newsom. It will significantly expand the application of the California Family Rights Act (CFRA) and its family and medical leave entitlements to all public sector employers and those private sector employers with 5 or more employees.  Until now, CFRA only applied to employers…

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Boutin Jones Inc. Adds Shareholder Gage C. Dungy to Firm’s Employment Law Practice

December 8, 2020

Gage Dungy has joined Boutin Jones as a shareholder in the firm’s Employment Law practice. He will assist clients in addressing labor and employment issues before they become a greater liability for clients. Gage works with clients on all types of employment law issues such as harassment, discrimination, family and medical leaves of absence, wage…

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CCPA Blog Series: Post No. 4 We Barely Got to Know You: How Prop 24 Changed the CCPA

December 4, 2020

In our first three posts on the CCPA, we discussed how its data privacy provisions might affect businesses and empower consumers, as well as the law’s implications on COVID-19 temperature checks. Although it has been a mere eleven months since the CCPA took effect, we already have a new law to evaluate. Buoyed by seven-figure…

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