Harbinger of State Tax Systems for the 21st Century? Recent Proposals from the California Tax Commission

Date: Wednesday, December 09, 2009
Time: 12:30 PM - 2:00 PM ET

In response to the current budget crises and the largest drop in state tax revenues in over 50 years, the non-partisan California Tax Commission (composed of government representatives, business leaders, and academics) recently released a proposal to overhaul the outdated and burdensome California state tax system.

The proposed changes are intended to stabilize a volatile income tax system, and to streamline business taxes to provide a more business friendly climate. Under the proposal, the state sales tax (but not local sales taxes) and corporate income taxes would be eliminated, and replaced by a Business Net Receipts Tax (BNRT). The state individual income tax would be at a new flat rate and many current deductions would be eliminated, with the goal of stabilizing tax collections from year-to-year.

This presentation focuses on the strengths and weaknesses of the proposal, and the likely impacts of the proposal’s adoption on corporations, pass through entities, and individuals. Practitioner impacts—from a compliance and planning perspective—will also be discussed. Planning ideas under the current and proposed provisions will also be discussed.

Presentation Objectives:
The objectives of this 60-90 minute audio discussion include providing participants with a conceptual understanding of the Commission’s proposal, strengths and weaknesses of the proposal (from a policy and a practice perspective), and the proposal’s impact on practitioners if adopted, as follows:

General discussion of the Commission’s proposal
Strengths and weaknesses; experience of similar systems in other states and countries, and public responses
Impacts on corporations
Impacts on pass through entities
Impacts on individuals
Most recent updates

Educational Objectives:

Describe the basic implications of the proposal
Understand the basic advantages/disadvantages of the proposed system on the state
Understand compliance and planning requirements for corporate, pass through, and individual clients, should the proposal become law
Understand how to voice opinions on the proposal

Register quickly and easily online to secure your space now. Or, please call 1-800-372-1033 option 6, then option 1, and refer to the date and title of the audioconference. Lines are open Monday through Friday from 8:30 a.m. to 7:00 p.m. ET, excluding most federal holidays.

Don't miss this opportunity to hear a lively, dynamic presentation. Not only are audioconferences an excellent way for you to stay current, with BNA you also get:

Quality. Count on it. Nothing is canned.
Objectivity. BNA Tax Management provides you with the best and most objective information.
Affordability. BNA Tax Management audioconferences are inexpensive when compared to the cost of travel to attend conferences with leading experts and practitioners. Plus, you may use a speakerphone and invite as many of your colleagues as you want to listen in -- all for the price of a single registration. See pricing for more details.
Convenience. No airlines. No travel. No time out of the office.

In addition, you'll receive:

Personal attention. Once you've registered, send your e-mail questions in advance to mcarrington@bna.com and they will be included in the program. You'll also have a chance to e-mail your questions during the audioconference.
Conference materials. We’ll e-mail links to the materials that will accompany the audioconference one day in advance. If you do not receive this pre-conference e-mail, e-mail mcarrington@bna.com.

Prerequisite: None
Level: Update
Delivery Method: Live
Recommended CPE Credit: 1 credit

If you would like to apply for CPE credits, please make sure to provide your contact information when you register, complete the post-conference evaluation form, note that you want to apply for CPE credits, and attend the audioconference from start to finish. Learn more about BNA's NASBA Registration

Cancellation policy
To cancel your registration for this event, you must contact Customer Service (1-800-372-1033, option 6, Monday through Friday, 8:30 a.m.-7:00 p.m. ET excluding most federal holidays) no later than 24 hours prior to the scheduled start of the audioconference. You will receive a CD of the audioconference or a credit valid for one year. Your credit may be applied toward the purchase of any BNA product or audioconference.

Refund Policy
If for any reason you are not completely satisfied with this program, we will provide a full refund — no questions asked!