The California Franchise Tax Board (FTB) has announced the scheduling of an Interested Parties Meeting (IPM) for December 4, 2014 on the topic of possible regulatory efforts regarding the proper treatment of mixed bank/financial corporation and general corporation combined reporting groups. The meeting will take place at FTB headquarters in Sacramento, California, but parties can also participate by dial-in telephone conference.

California taxpayers that are part of a combined report which includes both general corporations and banks/financial corporations, and especially California taxpayers where the bank/financial corporation is predominant in such a combination, are well advised to carefully track FTB’s upcoming activities in this area, beginning with the IPM.