California FTB Issues July 2023 Income Tax News

The California Franchise Tax Board (FTB) June 30 issued its July edition of tax news for individual income, corporate income, and trust income tax purposes. The news includes that: 1) starting the first week in July, the FTB will begin mailing Form FTB 5818-B, Notice of Tax Return Change - Revised Balance; 2) taxpayers whose taxable year begins from January through July must apply for a tentative credit reservation of the High Road Cannabis Tax Credit in July for the 2023 taxable year; 3) taxpayers have the option to submit statute of limitations waivers with electronic signatures using the FTB’s ...