California Revenue Procedure 93-34

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US-AA06
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Statutory Guidelines [Appendix A(6) Revenue Procedure 93-34] regarding rules under which a designated settlement fund described in section 468B(d)(2) of the Internal Revenue Code or a qualified settlement fund described in section 1.468B-1 of the Income Tax Regulations will be considered "a party to the suit or agreement" for purposes of section 130.

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FAQ

93-27 defines a profits interest as a partnership interest ?other than a capital interest,? and a capital interest is, in turn, an interest that would ?give the holder a share of the proceeds if the partnership's assets were sold at fair market value and then the proceeds were distributed in a complete liquidation of ...

Underpayment and Monthly Penalty - Limited Liability Company The penalty is 5 percent of the unpaid tax and/or fee, plus 0.5 percent of the unpaid tax and/or fee for each month or part of a month it remains unpaid, not to exceed 40 months.

In many respects, Legal Ruling 2014-01 is a restatement of the FTB's position that a member of an LLC classified as a partnership for federal income tax purposes is ?doing business? in California if the LLC is ?doing business? in the state.

Legal Ruling 2006-01, ?Apportionment Factor Treatment of Exempt Income,? was issued on April 26, 2006 to address the factor representation for business activities generating income not subject to tax, such as exempt and deductible income.

First, if you owe a California state tax balance to the Franchise Tax Board, they are granted legal authority to collect on your account in the event of non-payment or absent of a payment arrangement under California Revenue and Taxation Code Sections 18817 and 18670.

On February 22, 2017, the California Franchise Tax Board (?FTB?) issued Legal Ruling 2017-01, which provides guidance on the circumstances in which a taxpayer may claim the Other State Tax Credit (?OSTC?) or a deduction for taxes paid to another state under the California Revenue and Taxation Code (?CRTC?).

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California Revenue Procedure 93-34