Posts Tagged ‘enterprise zone tax news’
Dan Walters Latest EZ Piece Milder Than Usual
Tuesday, June 29th, 2010 | Enterprise Zones, Tax News
Walters, typically very hostile towards Enterprise Zones, issued a short article this morning in which he urges a review of what he considers “all tax loopholes.” The article notes that LA City Mayor Antonio Villaraigosa recently took a shot at Senate President Pro Tem Steinberg for authoring SB 974 which seeks to shift EZ funds to a new high school training program. The article also notes that Gov. Schwarzenegger recently issued his support for expanded EZs. In conclusion, Walters merely seeks a wholesale review of all tax “loopholes” rather than the usually vociferous and targeted cry to eliminate specifically the Enterprise Zone program. This could be seen as recognition that the EZs have strong support from upper levels of government and more importantly, that being able to tout the EZ program has immediate and positive tangible and intangible effects on the business climate and job creation.
Appellate Court Rules that the FTB has the Authority to Audit “Behind” the Enterprise Zone Qualified Employee Voucher Today
Thursday, May 7th, 2009 | Tax NewsThe California Court of Appeals ruled that the FTB has legal authority to audit vouchers issued by local Enterprise Zone agencies that handle the voucher process. The Court held that the FTB bears the burden of proof in rebutting the voucher’s prima facie value as evidence that an employee is a “qualified worker,” and may not rely on an employer’s failure to produce during the audit documents establishing a worker’s eligibility to the extent regulations governing the tax credit charge the enterprise zone, not the employer, with the obligation to maintain documents of workers’ eligibility.
For more information, see the full case file here:
Dicon Fiberoptics, Inc. v. Franchise Tax Board – filed May 7, 2009, Second District, Div. Eight