California – State Supreme Court Grants Review of Gillette Decision

1/17/2013

SALT Report 2050 – The California Supreme Court has granted the Franchise Tax Board’s petition for review of an appellate court’s decision in Gillette v. FTB. The appellate court ruled that taxpayers have the right to use the Multistate Tax Compact’s equally-weighted apportionment formula when apportioning their net income to determine their California corporate franchise and income tax liabilities.

For Further Information:

California Supreme Court – Case Number S206587 petition for review granted

SALT Report 1902 – FTB Files Petition for Review of Gillette Decision

SALT Report 1781 – The Gillette Decision and the Large Corporate Understatement Penalty