Today, the FTB is holding an Interested Parties Meeting to discuss implementation of the new rule allowing companies to assign credits to an affiliate.  As proposed, the FTB intends to impose the assignor’s usage limitations on the assignee.  The FTB also proposes that the assignee can only use the assigned credits to offset income generated from the same zone that generated the credits.  The assignee will be able to start using assigned credits in for the 2010 tax year.

If you want to hear how this can affect your business, please contact us directly.

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This entry was posted on Friday, April 3rd, 2009 at 4:57 am and is filed under Tax News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.