California’s Franchise Tax Board has begun sending out letters to businesses who have been delinquent in filing. The FTB performs an initial state assessment to get a general sense of what businesses have yet to file, which is how they’ve created the list of companies to contact.

In 2008, this action brought in an additional $31 million in previously unpaid taxes. The letter has been sent out to over 35,000 businesses around the state requesting payment or the reason they have not filed.

This action is meant to lower the difference between the amount of taxes paid compared to what is fully owed. It is estimated that each year, California has a tax gap of $6.5 billion.

Tags: franchise tax board, FTB, taxes

This entry was posted on Wednesday, September 23rd, 2009 at 4:52 am and is filed under Enterprise Zones. 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.