Public Meeting Agenda
Tax Board Meeting
Monday, July 21, 1997 - 10:00 a.m.
State Board of Equalization
450 N Street, Room 121*
Item 1. Approval of Minutes
a. Approval of Minutes of April 14, 1997 Board meeting. Board action.
b. Approval of Minutes of April 28, 1997 Board meeting. Board action.
Item 2. Legislative Matters
a. Staff report on status of white paper regarding failures to perfect Waters-Edge Elections. Possible Board action.
b. Board Positions on Legislative Bills. (The Board will discuss and may take positions with respect to the bills listed on the attachment to this agenda.) Board action.
c. Pending Legislation. (Staff will report on the status of legislative bills of interest.) Possible Board action.
Item 3. Regulation Matters
a. Staff informational presentations:
1. Development of a definition of "Gross Receipts" for standard formula apportionment purposes.
2. Proposed regulation regarding apportionment of business income generated by business activities relating to telecommunications and information providers.
3. Proposed regulation to embody Franchise Tax Board Publication No. 1061 (Mechanics of Preparing a Combined Report).
4. Proposed regulation regarding deferred intercompany transactions.
5. Status of proposed regulation (Regulation 25128), concerning double weighting of sales factor.
6. Proposed Homeowners and Renters Assistance regulations to implement the federal Personal Responsibility and Work Opportunity Act of 1996.
b. Discussion regarding the Multistate Tax Commissions proposed amendment to Regulation IV.18.(c) which provides for inclusion in the sales factor of gains at net income amounts from certain treasury functions. Possible Board action.
Item 4. Applications for Voluntary Disclosure
Board consideration of staff recommendations regarding Applications for Voluntary Disclosure filed pursuant to Revenue and Taxation Code Section 19191. Possible Board action.
Item 5. Proposed Legal Ruling
Staff presentation regarding withdrawal of Legal Ruling 402 and status of proposed new ruling dealing with payment of tax, interest, additions to tax and penalties as a prerequisite for a valid claim for refund. Possible Board action.
Item 6. California Alternative Minimum Tax Report
Discussion regarding California Alternative Minimum Tax Report. Possible Board action.
Item 7. Health Care Corporations
Discussion regarding taxation of dividends from health care corporations. Possible Board action.
Item 8. Executive Officers Time
Chief Counsel. Possible Board action.
Item 9. Board Members Time
Closed session to consider recommendations regarding settlement of administrative tax disputes authorized by subdivision (k) and (q) of Section 11126 of the Government Code, and/or required to be in closed session by Section 19442 of the Revenue and Taxation Code.
Closed session to consider approving a Closing Agreement involving a litigation and administrative tax dispute settlement. Government Code Section 11126(e)(1) and Revenue and Taxation Code Section 19442.
Closed session to approve recommended settlement in a litigation case. Government Code Section 11126(e)(1).
Closed session to consider action on pending Section 25137 Petition.
* This facility is architecturally accessible to persons with physical disabilities.