Avoiding Tax Consequences During Oil & Gas Restructurings
On May 10, California Governor Gavin Newsom introduced his “May Revise” of the state budget. In addition to net operating loss deduction suspensions and tax credit usage limitations, one particularly concerning corporate...more
As Benjamin Franklin once said, “Nothing in this world can be said to be certain, except death and taxes.” For out-of-state buyers unfamiliar with California’s transfer tax system, there are a few things to know to avoid a...more
Los Angeles’ United to House LA Measure (Measure ULA), enacted by city voters in November 2022, implements a significant new transfer tax on high-value real estate transfers or sales throughout the city of Los Angeles....more
The responsibilities of marketplace facilitators operating in California are expanding under legislation recently signed by Governor Gavin Newsom. Starting on July 1, 2023, an “online marketplace” will be required to collect...more
In a prior post from 2020, Money and Dirt covered an opinion from California’s Fourth Appellate District holding that an Assessor’s Parcel Number (APN), by itself, “does not necessarily demonstrate the actual, physical...more
Help for California’s fledgling cannabis industry finally appears to be on the way. For years, the industry has shouldered heavy taxes – a 15% state-wide excise tax, sales and use taxes up to 10.75%, and local business...more
Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide...more
On February 2, 2022, the California Department of Tax and Fee Administration (CDTFA) held an interested parties meeting (IPM) to discuss proposed amendments to sales tax audit manual (AM) Chapter 13, “Statistical Sampling,”...more
Below are summaries of the key California and Ninth Circuit land use and development law cases decided in 2021. 1. Planning and Zoning - CHEVRON v. COUNTY OF MONTEREY 70 Cal. App. 5th 153 (2021) - A county ordinance...more