California court finds securitization entities subject to California income tax *

USA - May 13 2013
A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax…

Co-authors: Mike Shaikh, Kyle O. Sollie.

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Microsoft court holds right to replicate software is an intangible property right for purposes of California’s sales factor sourcing rules *

USA - December 21 2012
Earlier this week, the California Court of Appeal, First District, held that the right to replicate and install software is an intangible property right…

Co-authors: Mike Shaikh, Brian W. Toman, Kyle O. Sollie.

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California’s Proposition 39: not-so-mandatory single sales factor *

USA - November 12 2012
On November 6, California voters passed Proposition 39, which changes the state’s default apportionment to a single sales factor method.

Co-authors: Mike Shaikh, Brian W. Toman, Kyle O. Sollie.

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Gillette reinstated. If Compact is elected, LCUP penalty shouldn't apply *

USA - October 4 2012
The First Appellate District of the California Court of Appeal has once again held that California taxpayers may avail themselves of the Multistate Tax Compact (the Compact) election, which allows for taxpayers to file returns using the standard Uniform Division of Income for Tax Purposes Act (UDITPA) three-factor formula with equally weighted property, payroll, and sales factors.

Co-authors: Mike Shaikh, Brian W. Toman, Kyle O. Sollie.

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CA’s 20% LCUP penalty shouldn’t apply to compact elections under Gillette *

USA - September 6 2012
Friday, Reed Smith partner and former FTB Chief Counsel Brian Toman submitted a written request for consideration at the FTB's meeting yesterday for the FTB to interpret the 20 percent Large Corporate Understatement Penalty (LCUP) to not apply to taxpayers that elect to use the Multistate Tax Compact method on their 2011 tax returns.

Co-authors: Mike Shaikh, Brian W. Toman, Kyle O. Sollie.

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