Board of Equalization Member George Runner issued the following statement in response to the Governor’s signing of Assembly Bill 1412, which fully reversed a controversial Franchise Tax Board staff decision to seek millions in retroactive taxes from California taxpayers:
Thank you for reading the MtDemocrat.com digital edition. In order to continue reading this story please choose one of the following options.
If you are a current subscriber and wish to obtain access to MtDemocrat.com, please select the Subscriber Verification option below. If you already have a login, please select "Login" at the lower right corner of this box.
Special Introductory Offer
For a short time we will be offering a discount to those who call us in order to obtain access to MtDemocrat.com and start your print subscription. Our customer support team will be standing by Monday through Friday, 8am to 5pm to assist you.
If you are not a current subscriber and wish not to take advantage of our special introductory offer, please select the $12 monthly option below to obtain access to MtDemocrat.com and start your online subscription
“It’s no secret I’ve been highly critical of the Franchise Tax Board’s decision to assess five years and more than a hundred million dollars in retroactive taxes against California small businesses and start-up investors.
“Thankfully this wrong was finally righted today with the Governor’s signature of Assembly Bill 1412.
“AB 1412 is the product of rare bipartisan legislative cooperation. It will ensure that taxpayers who followed the law in good faith will not be taxed retroactively for doing so.
“I commend all involved for their hard work in bringing about a fair and reasonable outcome for California taxpayers.”
Elected in November 2010, George Runner represents more than nine million Californians as a member of the State Board of Equalization. For more information, visit www.boe.ca.gov/Runner.