Never a dull moment with California tax rules. Only a little more than a year ago California adopted a rule allowing multi-state businesses to choose between a single sales and a three-factor apportionment method to determine their state tax liability. It actually made California a bit more business friendly for once, but not for long. Statewide Proposition 39 simplified the choice for businesses by making the single sales factor method mandatory effective January 1, 2013…
California NOLs Are Back and Better than Ever
Good news for California taxpayers – for taxable years beginning on or after January 1, 2012, California has reinstated the Net Operating Loss (NOL) deduction and the NOL carryover deduction. There is no longer a limitation on the taxpayer’s taxable income for which NOL is available…
DTA and DTL, Say What?
How often does your auditor or tax advisor throw out terms like “ DTA” or “DTL” expecting you to understand instantly what he or she is talking about? These are the terms that your professional advisor uses every day, but they are not as commonly known outside of the accounting world. So what are a DTA and a DTL and why do you need to know about them?…