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Who Is The Franchise Tax Board?

The California Franchise Tax Board (FTB) collects state personal income tax and corporate income tax of California. It is part of the California Government Operations Agency.

Who runs the Franchise Tax Board?

Selvi Stanislaus was appointed Executive Officer of the Franchise Tax Board (FTB) on January 11, 2006. As FTB’s fourth executive officer and the first woman to hold the post, Selvi oversees the second-largest tax department in the nation, with more than 6,000 employees in California and its three out-of-state offices.

Is Franchise Tax Board same as IRS?

While the IRS enforces federal income tax obligations, the California Franchise Tax Board (FTB) enforces state income tax obligations. Similar to IRS collection enforcement, FTB can levy the taxpayer’s bank account or garnish his or her wages.

Why am I getting a letter from the Franchise Tax Board?

This letter is a reminder to file your 2017 tax year information returns with us if you have a filing requirement.

What is the purpose of the Franchise Tax Board?

Our mission is to help taxpayers file tax returns timely, accurately, and pay the correct amount to fund services important to Californians.

How do I speak to someone at the Franchise Tax Board?

Taxpayers with general questions can call (800) 852-5711 or visit our website at ftb.ca.gov.

Is California Franchise Tax Board real?

FTB administers two of California’s major tax programs: Personal Income Tax and the Corporation Tax. FTB also administers other non tax programs and delinquent debt collection functions, including delinquent vehicle registration debt collections on behalf of the Department of Motor Vehicles, and court–ordered debt.

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What happens if you don’t pay California franchise tax?

The California Franchise Tax Board imposes a penalty if you do not pay the total amount due shown on your tax return by the original due date. The penalty is 5 percent of the unpaid tax (underpayment), plus 0.5 percent of the unpaid tax for each month or part of a month it remains unpaid (monthly).

What is the difference between income tax and franchise tax?

Income taxes apply to profit. Franchise taxes do not apply to profit. Another difference between income tax and franchise tax is the entity that does the taxing. Corporate franchise taxes, on the other hand, are essentially fees that companies must pay for the privilege of doing business in a particular city or state.

Can the Franchise Tax Board garnish unemployment?

The Franchise Tax Board may withhold all or a portion of your California state income tax refund. The unemployment insurance overpayment debt may be referred to the IRS, which will reduce or withhold any Federal income tax refund.

Can you send certified mail to Franchise Tax Board?

Sometimes you may be required to provide proof that you’ve sent us mail, to verify it’s been submitted on time. The postmark date is the filing date of the tax return, document, or payment. Generally, proof of mailing includes: Certified or registered mail receipt.

Can you negotiate with Franchise Tax Board?

The Offer in Compromise (OIC) program allows you to offer a lesser amount for payment of a nondisputed final tax liability. Generally, the Franchise Tax Board (FTB) approves an OIC when the amount offered represents the most we can expect to collect within a reasonable period of time.

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Who pays CA Franchise Tax?

Every corporation that is incorporated, registered, or doing business in California must pay the $800 minimum franchise tax.

Can the Franchise Tax Board taking money from bank account?

The FTB has the authority to take 100 percent of the balance owed directly out of your bank account. They can also garnish your wages and file tax liens against your property when collecting unpaid tax liabilities. The FTB will first mail you a notice informing you that you owe California income tax.

Do I have to pay California Franchise Tax?

Every corporation that is incorporated, registered, or doing business in California must pay the $800 minimum franchise tax.

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