SB 1554

Bill Subjects

Abstract

(1) Existing law provides for the establishment of the Franchise Tax Board and prescribes its various powers and duties regarding the administration of state personal income taxes and corporation franchise and income taxes. The State Board of Equalization collects and administers various taxes and fees imposed under specified programs and serves as an arbiter for the resolution of tax disputes involving the imposition of fees and taxes, including those taxes administered by the Franchise Tax Board. This bill would abolish the Franchise Tax Board, and would provide for the transfer of its powers and duties to the State Board of Equalization, operative January 1, 2014. (2) Existing law requires the Employment Development Department to administer the reporting, collection, and enforcement of personal income tax wage withholding. This bill would instead require the State Board of Equalization to administer the reporting, collection, and enforcement of personal income tax wage withholding, operative January 1, 2014.