Chapter 1: Major 2008 Changes
Summary of Important 2008 Changes
Chapter 2: Introduction to California Taxation
History of California Tax, California Tax System, Administration of Tax, Imposition of Tax, Federal Conformity, IRC Operative and Inoperative Dates-Application, Exceptions to IRC Adoption, California and Federal Regulations, Elections, New California Residents, Application or Consent, Statute of Limitations, Secretary-Franchise Tax Board, Adjusted Gross Income, Application of IRC
Chapter 3: Who Must File
Residents, Nonresidents
Chapter 4: Tax Rates, Standard Deduction and Exemption Credit
Tax Rates, Additional 1% Mental Health Services Tax, Standard Deduction, Limitation on Itemized Deductions, Personal Exemption Credits, Corporate Tax Rates, LLC Fees Unchanged
Chapter 5: Non Resident Issues
Determination of Residency, Nonresidents and Part-Year Residents, California Source Income, 540NR Adjustments, Deductions and Credits, Change of Residency Status
Chapter 6: Income Inclusions
Gross Income, Compensation for Personal Services, Compensation Distinguished From Gift, Qualified Scholarships, Employer Educational Assistance Programs, Military Pay, Pensions and Other Payments to Retired Employees, Non-Exempt Trust or Plan, Annuities, Employee Annuities, Interest, Dividends, Alimony, Commodity Credit Loans, Cancellation of Indebtedness, Restricted Property, Rents, Illegal Payments, Bribes and Kickbacks, Credits and Treatment of Credit Carryovers, Other Items of Gross Income
Chapter 7: Income Exclusions
What Are Exclusions from Gross Income', Life Insurance, Gifts and Inheritance, Compensation for Injury or Sickness, Amounts Received Under Accident and Health Plans, Rental Value of Parsonages, Income from Discharge of Indebtedness, Lessee's Improvements on Lessor's Property, Recovery of Tax Benefits Items, Sale or Exchange of Residence, Living Expense Insurance Payments, Meals and Lodging Furnished by Employer, Cafeteria Plans, Cancellation of Student Loan, Adoption Assistance Programs, Payments to Vacate Real Property, Educational Assistance Programs, Conservation Cost-Sharing Program Payments, Grants Under Assistance Programs, Dependent Care Assistance Programs, Cash or Deferred Profit-Sharing Arrangement'401(k) Plans, Boundary Waters Canoe Act Payments, Fringe Benefits, Ridesharing, Empty Beverage Containers, Water Conservation Water Closet Expenses, Foster Care Payments, Energy Subsidies Paid by Public Utilities, Cost-Share Payments Received by Forest Landowners, Crime Hotline Awards, Payments Under German Act Regulating Unresolved Property, Energy Conservation Rebates, Restitution Payments, Military Benefits, Federal Subsidies for Prescription Drug Plans
Chapter 8: Adjustments to Income
Deductions for Adjusted Gross Income, Business Expenses, Rent or Royalty Expenses, Losses on Business Property, Net Operating Losses, Moving Expenses, Interest Penalty Due to Early Withdrawal of Savings, Individual Retirement Arrangements, Keogh Plans, Alimony Payments, Business Use of Home, Circulation Expenditures, Research and Experimental Expenditures, Farmers' Expenses, Amortization of Pollution Control Facility, Activities Not Engaged in for Profit (Hobby Losses), Employee Stock Options, California Qualified Stock Option, Welfare Benefit Plans, Medical Savings Plans, Health Savings Accounts
Chapter 9: Itemized Deductions
General, Standard Deduction, Medical Expenses, Taxes, Interest, Charitable Contributions, Casualty Losses, Miscellaneous Deductions
Chapter 10: Accounting Periods, Sales and Exchanges
Taxable Year for Recognizing Income, Taxable Year for Taking Deductions, Sales and Exchanges
Chapter 11: Tax Credits for Individuals
Tax Credits'Generally, Personal and Dependency Credits (Exemption Credits), Credit for Adoption Costs, ''Other State'' Net Income Tax Credit, Teacher Retention Credit, Renter's Credit, Excess State Disability Insurance, Head of Household and Dependent Parent Credits, Low-Income Housing Credit, Transportation Costs of Donated Agricultural Products, Other Tax Credits, Natural Heritage Preservation Tax Credit, Household and Dependent Care Credit, Solar and Wind Energy System Credit
Chapter 12: Accounting Periods, Methods, Inventory, Etc.
Accounting Period, Change of Accounting Period, Accounting Methods, Change of Accounting Method, Taxable Year of Inclusion of Items of Gross Income, Taxable Year for Taking Deductions, Special Rules for Tax Shelters, Inventories, Uniform Capitalization Rules, Accounting for Inventories, Valuation of Inventories, Specialized Businesses-Valuation Methods
Chapter 13: Depreciation, Amortization, Depletion, Bad Debts
Depreciation and Amortization, Amortization of Intangible Property, Basis for Depreciation, Methods for Figuring Depreciation, Available Methods, Accounting for Depreciable Property, Retirement of Assets, Expensing Qualified Property, Clean-Fuel Vehicles and Refueling Property, Useful Life and Class Life Asset Depreciation Range System, Demolition of Structures, Child Care Centers, Business Start-Up Expenses, Expensing Property in Business Incentive Areas, Luxury Automobiles and Mixed-Use Property, Depreciation Recapture, Depletion, Bad Debts
Chapter 14: Corporations
Corporations Liable for Tax-General, Franchise Tax on Corporations, Corporation Income Tax, Foreign Corporations, Banks and Financial Corporations, Corporations Commencing to Do Business, Corporations Discontinuing Business, Change of Tax Status, Corporate Organization, Corporate Reorganizations, Complete Liquidation of Corporation, Basis of Property Received in Liquidation, Gain Realized on Liquidation
Chapter 15: S Corporations, LLCs and Other Entities
S Corporations, Professional Corporations, Personal Holding Companies, Collapsible Corporations, Holding Companies, Limited Liability Partnerships, Exempt Organizations, Limited Liability Companies
Chapter 16: Quitting Business in California
Corporate Dissolutions and Withdrawals, Corporations Discontinuing Business, Corporate Suspension and Revivor
Chapter 17: Gross Income
Basis of Tax, Gross Income Defined, Gross Income From Business, Dividends, Interest, Rents and Royalties, Patronage Dividends, Life Insurance Proceeds, Income of Certain Foreign Aircraft and Ships, Income From Discharge of Indebtedness, Recovery of Bad Debts, Capital Losses, Empty Beverage Containers, Annuity Contracts Not Held By Natural Persons
Chapter 18: Deductions and Net Operating Loss
Ordinary and Necessary Business Expenses, Interest, Taxes, Charitable Contributions, Research and Experimental Expenditures, Dividends, Organization Expenditures, Losses, Capital Losses
Chapter 19: Multi State Taxation
Introduction, Basic Law for Allocation and Apportionment, Federal Law Protecting Interstate Businesses, Multistate Tax Compact, Unitary Businesses, Combined Reporting-Affiliated Corporations, Business Income Apportionment Formula, Special Apportionment Formulas, Separate Accounting, Alternative Minimum Tax
Chapter 20: Pass-Through Entities
Partnerships, Limited Liability Companies, Classification of Pass-Through Entities, Taxation of Partnerships, Partnership Taxable Income, Partnership Capital Gains and Losses, Dissolving Limited Liability Pass-Through Entities, Taxation of Partners/LLC Members, Contributions to Partnership, Basis of Partner's Interest, Partner's Distributive Share, Withholding on Distributions to Partners, Partner's Dealings With Partnership, Sale or Exchange of Partner's Interest, Retiring Partner's Interest, Gain or Loss on Distribution, Special Basis to Transferee in Distributions Adjustment to Basis of Partnership Assets, Estate or Other Successor as Partner, Partnership Income of Nonresidents
Chapter 21: Tax Credits for Businesses
Investment Tax Credit for Manufacturing Equipment (Repealed), Employers' Child Care Credit, Employers' Qualified Dependent Care Plan Credit, Research Expenditures Credit, Enterprise Zones-Credits, Hiring and Financial Incentive Credits, Prison Inmate Labor, Local Agency Military Base Recovery Area-Incentives, Enhanced Oil Recovery Credit, Expenditures to Provide Access to Disabled Individuals, Rice Straw Credit, Qualified Farmworker Housing, Environmental Tax Credit for Small Refiners
Chapter 22: Alternative Minimum Tax/Premature Distributions
Alternative Minimum Tax-Personal Income Tax, Alternative Minimum Tax Rate-Corporation Tax, Tax on Premature Distributions
Chapter 23: Interest and Penalties
Statute of Limitations, Penalties, Interest
Chapter 24: Property Tax
Background, New Construction, New Construction Exclusions, Change in Ownership, Change in Ownership Exceptions, Decline in Market Value, Exemptions, Proposition 13 Base Year Value Transfers to Replacement Properties, Base Year Value Transfers for Property Taken By Eminent Domain or Acquired By a Goverment Entity (Proposition 3), Property Acquired or Constructed to Replace Disaster Area Property, Business Personal Property, Property Tax Assistance
Index
