Tax Law Changes In California For 2008

Curious about what tax law changes occurred in California that impacts your income tax return (Form 540)? The Franchise Tax Board (FTB) publised a summary of those changes which you can view here.

Some of the tax changes cover these topics:

Electronic payments
Mortgage forgiveness debt relief
Net operating loss
Tax shelters
Business tax credit limitation
Estimated tax payments
Same-Sex married couples
Voluntary contributions
Third party designee
Conformity
Rice Straw Credit
Withholding on California Real Estate

Consult your tax preparer to determine whether any of these changes may apply and benefit you.