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CA developments: estimated tax payments, 1099s and more.

Publication: California CPA
Publication Date: 01-JAN-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
The annual liaison meeting between the FTB and CalCPA Committee on Taxation cleared up a long-standing source of confusion among CPAs.

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Under Rev. & Tax Code Sec. 23114, a corporation is not liable for taxes or fees if its year is less than 15 days and no business was conducted. A question posed at the meeting was: What date does the FTB use in determining the date of incorporation?

The answer: The date stamped on the Articles of Incorporation by the California Secretary of State creates a corporation, and that date is forwarded to the FTB. If there is a...



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