(pdf) On Valentine’s Day this year, California’s Franchise Tax Board (FTB) announced that it wanted relationships with a lot more out-of-state businesses. Unfortunately for these businesses, the FTB’s idea of a relationship is an expensive one, and it’s not asking. In a recent guidance, the FTB announced that it intends to reinterpret an existing federal law in order to allow itself to impose income tax obligations on out-of-state businesses. Just a couple months later, New York’s D...
