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Old 03-04-2010, 03:25 PM
 
11,715 posts, read 37,394,681 times
Reputation: 7535

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Cal. use-tax deadline creating havoc, experts say

March 4th, 2010, 11:30 am · 4 Comments · posted by Jan Norman, small-business columnist

The state has automatically registered every California business with revenue of $100,000 or more to file annual tax returns for everything they bought out of state. And these businesses have six weeks to file the first return going back three years.

This registration and short filing deadline “are set to create havoc on the Board of Equalization staff and businesses throughout California,” states an open letter to the legislature and elected members of the Board from Spidell Publishing, the Anaheim-based publisher of the California Tax Letter.

Among the problems:

* Businesses don’t have enough time to collect records from the past three years
* They must file by April 15 even if they file their income taxes, which require some of the same information, at another date
* The notification was mailed March 1 but may not reach all affected businesses

Click below for the full story:

Cal. use-tax deadline creating havoc, experts say - Jan Norman on Small Business : The Orange County Register
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Old 03-04-2010, 04:16 PM
 
Location: San Jose
1,044 posts, read 2,495,998 times
Reputation: 961
California seems to be willing to try every trick in the book EXCEPT the most obvious one: start slashing some of the legions of state employees. A 20% headcount reduction would go a long way toward righting the state's finances, and if the terminees are judiciously chosen, productivity might actually go UP.

Also, immediately shift all employees with pension plans (defined benefit) to ordinary retirement accounts (defined contribution). It may not be legally possible to do this for the contributions that have already been made, but certainly for all future contributions it can and should be done.
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Old 03-04-2010, 05:31 PM
 
Location: SW MO
23,599 posts, read 33,299,320 times
Reputation: 29178
Quote:
Originally Posted by jbunniii View Post
California seems to be willing to try every trick in the book EXCEPT the most obvious one: start slashing some of the legions of state employees. A 20% headcount reduction would go a long way toward righting the state's finances, and if the terminees are judiciously chosen, productivity might actually go UP.

Also, immediately shift all employees with pension plans (defined benefit) to ordinary retirement accounts (defined contribution). It may not be legally possible to do this for the contributions that have already been made, but certainly for all future contributions it can and should be done.
Nope! Not for past contributions and not for current employees at all. That would be a violation of their employment contract. Such changes can legally be made only prospectively, not retrospectively.

Nice try, though!
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Old 03-04-2010, 06:08 PM
 
233 posts, read 682,942 times
Reputation: 213
Quote:
Originally Posted by Curmudgeon View Post
Nope! Not for past contributions and not for current employees at all. That would be a violation of their employment contract. Such changes can legally be made only prospectively, not retrospectively.

Nice try, though!
if the state of CA were to go bankrupt would this be possible? If so I am waiting for the day CA goes bankrupt so it can reform its horrible system.
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Old 03-04-2010, 07:37 PM
 
Location: The High Seas
7,376 posts, read 14,198,755 times
Reputation: 11778
Brlliant thinkers here, always looking for ways to fine tune the economic engine that's left in this state.
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Old 03-04-2010, 07:56 PM
 
Location: SW MO
23,599 posts, read 33,299,320 times
Reputation: 29178
Quote:
Originally Posted by MonkeyKid View Post
if the state of CA were to go bankrupt would this be possible? If so I am waiting for the day CA goes bankrupt so it can reform its horrible system.
More bad luck. The state constitution precludes and I don't think there's any provision in federal law to permit a filing for bankruptcy.

I suppose the state could always try to secede and then declare itself belly-up but it probably takes too many votes to get the job done.

I guess they might actually have to fix it instead!
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Old 03-14-2010, 12:56 AM
 
203 posts, read 292,614 times
Reputation: 67
California just needs to give us (poor people) the money so we can spend it to the companies, and than the companies will get money... Reasonable for everyone!
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Old 03-14-2010, 01:14 AM
 
Location: 38°14′45″N 122°37′53″W
4,152 posts, read 10,249,755 times
Reputation: 3423
Quote:
Originally Posted by icstitch View Post
California just needs to give us (poor people) the money so we can spend it to the companies, and than the companies will get money... Reasonable for everyone!
Please tell me you are being sarcastic.
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Old 03-14-2010, 01:22 AM
 
11,715 posts, read 37,394,681 times
Reputation: 7535
Quote:
Originally Posted by bellalunatic View Post
Please tell me you are being sarcastic.
Given this poster's obsession with the high price of a ticket to Disneyland, I don't think so.
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Old 01-28-2011, 10:09 AM
 
Location: Las Flores, Orange County, CA
964 posts, read 2,453,120 times
Reputation: 578
204 companies left California | california, companies, rel - 2010 total - The Orange County Register
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