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California Franchise Tax Board Interested Parties Meeting Update

The California Franchise Tax Board released a summary of its April 13, 2009 Interested Parties Meeting relating to the assignment of Enterprise Zone tax credits among members of a combined reporting group.  Members of the public attended the meeting and lodged questions and comments regarding the effect and manner in which the assignments will take place.   The meeting’s framework was the draft frequently asked questions (FAQs) released in late March 2009 for public comment.   The FTB still intends to issue further clarification of the statute in response to the meeting. Summary.

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