COVID-19 Update

CalTax Asks U.S. Treasury Secretary for Formal Guidance on New Federal Law’s Effect on State Tax Reductions

CalTax and 16 other state taxpayer associations sent a letter to U.S. Treasury Secretary Janet Yellen on March 17 asking for guidelines to clarify provisions of the American Rescue Plan Act – the federal COVID-relief law that includes a provision restricting tax reductions by states that accept relief funds. The law, signed by President Joe Biden on March 11, provides approximately $350 billion to state and local governments to mitigate the economic impact of the pandemic. Section 602(c)(2)(A) restricts states…

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Governor Extends Property Tax Deadlines, Makes Major Change in Workers’ Compensation Coverage and Prepares to Partially Reopen the State

Governor Gavin Newsom issued executive orders May 6 extending the deadline for business owners to file business personal property (BPP) statements with county assessors, giving some residential and small business property owners an extra year to pay their real property taxes without penalty or interest, and making a change to the workers’ compensation system to presume that workers who contract COVID-19 did so on the job. This week, the governor also announced plans to partially reopen the economy by allowing…

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