Tax Blog

Our tax blog is dedicated to CFOs, Tax Directors and Business Owners looking to improve profitability, grow their business or implement a succession plan. At Armanino, we see the tax function as a key strategic tool—as nothing less than a vital means of moving you and your company forward. While we excel in making sure our clients meet regulatory requirements—both domestic and global—that just scratches the surface of what we do.

January 13, 2021

Gov. Newsom Proposes $4.5B for Equitable Recovery for CA Business and Jobs

Initial budget focuses on benefits for California businesses via tax credits and rate adjustments.

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December 23, 2020

COVID Relief Package Could Have State and Local Tax Consequences

New provision will allow deductions of expenses funded by a PPP loan that is forgiven.

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October 14, 2020

California Offers New Small Business Hiring Credit

Funding is limited, so taxpayers should begin calculations early for this $1K per new hire credit.

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September 8, 2020

CA Legislative Session Concludes for 2020; Prop 15 on Ballot

CA passed tax bills SB 972 and AB 3372, impacting corporate disclosure, water’s edge and more. And watch for Prop 15.

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July 30, 2020

Surprise, Altera Case has State Tax Implications!

The Supreme Court’s denial of cert. in Altera creates potential state tax opportunities.

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July 20, 2020

Portland Has A New Tax, Oregon Issues More CAT Guidance and Washington Expands Its Voluntary Disclosure Program

Here are the latest OR and WA state and local tax laws and expanded guidance.

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July 15, 2020

Seattle City Council Passes JumpStart Seattle, Implementing New Employee Payroll Expense Tax

The bill, which seeks to raise over $200 million a year for the homeless, puts a new tax on companies with Seattle-based payroll expenses of $7 million or more.

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June 1, 2020

State and Local Tax Update on San Francisco

Below you’ll find an overview of some local tax issues and relief opportunities for companies doing business inside the city of San Francisco (SF). Based on our more than 20 years as state and local tax (SALT) professionals, we believe the SF Business Tax remains one of the most difficult returns for companies to file …

May 26, 2020

Forgiven PPP Loans and the Deductibility of Expenses Paid

Summary While most states have yet to comment on whether taxpayers can deduct ordinary business expenses paid with Paycheck Protection Program (PPP) loan proceeds that are forgiven by the IRS, taxpayers should monitor state conformity to the CARES Act (P.L. 116-136) and the Internal Revenue Code. Rolling conformity states that conform to the CARES Act …

CA Revised Budget Proposal Includes Suspension of NOLs and Limits on Business Tax Incentive Credits

Summary Prior to COVID-19, California was projecting a budget surplus of $5.6 billion for the 2020-2021 fiscal year, with March actual revenues coming in $1.35 billion above projections. COVID-19 changed all that as businesses were forced to temporarily close and lay off or furlough employees, and the entire US economy came to an abrupt halt. …

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