News articles


  • October 17 tax filing deadline approaching
    October 11, 2022 Tax News Flash

    Sacramento -- The Franchise Tax Board (FTB) today reminded taxpayers that Monday, October 17, 2022, is the deadline for filing 2021 state personal income tax returns to avoid late filing penalty.

  • California grants tax relief for Hurricane Ian victims
    October 10, 2022 Tax News Flash

    Sacramento -- The Franchise Tax Board (FTB) today announced special state tax relief for taxpayers and businesses affected by Hurricane Ian.

  • FTB issues legal ruling on sourcing of gain from sale of IRC Section 751 assets
    July 20, 2022 Tax News Flash

    On July 14, 2022, Franchise Tax Board (FTB) issued Legal Ruling 2022-02 relating to California sourcing rules when a nonresident individual partner disposes of a partnership interest in a partnership that holds unrealized receivables or inventory (commonly referred to as "hot assets").

  • Filing deadline extended for class action settlement claims
    July 18, 2022 Tax News Flash

    The deadline has been extended to August 19, 2022, for affected LLCs to file claims pursuant to the class action settlement announced in FTB Notice 2022-02.

  • FTB LLC Fee Class Action Settlement
    May 9, 2022 Tax News Flash

    On Friday, May 6, 2022, the Franchise Tax Board issued Notice 2022-02 to inform limited liability companies (LLCs) and the public that the San Francisco County Superior Court has granted preliminary approval of a proposed class action settlement for the Franchise Tax Board Limited Liability Corporation Tax Refund Cases. (The Settlement)

  • State Controller Betty T. Yee Available for Tax Day Interviews
    April 12, 2022 Media Advisory

    State Controller and Franchise Tax Board (FTB) Chair Betty T. Yee will be available for interviews about this season's state tax trends from 9:00 a.m. to 11:00 a.m. on Monday, April 18, 2022, at the Franchise Tax Board in Sacramento.

  • FTB issues Legal Ruling on California's Market-Based Rules
    April 11, 2022 Tax News Flash

    On March 25, 2022, the Franchise Tax Board issued Legal Ruling 2022-01 relating to the application of California's market-based rules in Revenue and Taxation Code (R&TC) section 25136 and California Code of Regulations, title 18, section (Regulation) 25136-2.

  • Last minute tax tips: What you need to know
    Aprill 11, 2022 News Release

    The Franchise Tax Board (FTB) today offered key tips for California taxpayers before the April 18 filing deadline.

  • Pass-Through Entity Elective Tax could trigger mandatory e-pay requirement
    April 6, 2022 Tax News Flash

    S corporations and limited liability companies classified as S corporations whose total tax liability, including any Assembly Bill 150 pass-through entity elective tax, exceeds $80,000 are required to make all future payments electronically.

  • SOS "Dark" Period in March / April 2022
    March 29, 2022 Tax News Flash

    The California Secretary of State (SOS) is implementing the next phase of their ongoing California Business Connect Project on April 7, 2022.

  • EITC Qualification Expanded/Credit Code 242 PTE Elect
    March 11, 2022 Tax News Flash

    Married/Registered Domestic Partner (RDP) Filing Separate no longer automatically disqualifies the taxpayer from being eligible for the California Earned Income Tax Credit (EITC)

  • Capital Account Reporting
    March 9, 2022 Tax News Flash

    Starting in taxable year 2022, and all subsequent years, partnerships and limited liability companies taxed as partnerships will be required to use the California tax basis amounts in the "Capital Account Analysis" on Schedule K-1 (565) and Schedule K-1 (568).

  • Estimated Tax Penalty Relief for Farmers and Fishermen
    March 7, 2022 Tax News Flash

    We are aware that farmers and fishermen, as defined in Internal Revenue Code section 6654(i)(2)(A) for purposes of estimated taxes, according to IR-2022-49 have had issues with filing their 2021 tax returns and paying the tax by the March 1, 2022, due date for those taxpayers who did not make an estimated tax payment by January 18, 2022. As a result of these issues, the Franchise Tax Board will waive the underpayment of estimated tax penalty if qualifying farmers and fishermen file and pay their 2021 taxes by April 18, 2022.

  • Entity ID Number to use for Electronic Payment Methods
    March 3, 2022 Tax News Flash

    There are two separate Franchise Tax Board electronic payment methods. The electronic payment method an entity chooses will determine which Entity ID number should be used. Using the proper Entity ID number, helps us ensure payments are posted properly to the correct entity.

  • Revision to 2021 Form 3893, Pass-Through Entity Elective Tax Payment Voucher
    February 25, 2022 Tax News Flash

    Due to California SB 113, we are revising tax forms, schedules, a publication, and booklets.

  • Real-time Identify and Proofing Enrollment now available
    February 07, 2022 Tax News Flash

    We have completed the Real-time Identify and Proofing Enrollment process to expedite access to MyFTB accounts. You can now register for MyFTB without waiting for a Personal Identification Number (PIN) letter sent by mail.

  • Beware of scams as new tax season begins
    January 12, 2022 News Release

    With a new tax season under way, the Franchise Tax Board (FTB) reminds taxpayers to take steps to protect themselves from scam artists seeking to steal refunds and identities.

  • FTB notice 763B -- FTB assigned identification number
    January 03, 2022 Tax News Flash

    Due to a system update to accommodate AB 85, entities without a Secretary of State ID on file with the Franchise Tax Board (FTB), (even if they had an EIN on file), were issued a temporary FTB ID number.