The California treasurer and lieutenant governor would be added to the three-member Franchise Tax Board overseeing personal and corporate income taxes under a bill the Assembly passed late Wednesday.
Treasurer Fiona Ma (D) is sponsoring the bill (A.B. 2238) by Assemblyman Evan Low (D) out of concern that the board’s decisions have an impact on the state’s cash management. Ma and Low pointed to the FTB’s decision to delay 2022 state income tax filings by seven months due to severe winter storms, which had a ripple effect on cash flow managed by the treasurer.
- Currently, the ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.