California Tax Analysis: Corporation Tax is a comprehensive and indepth treatise on one of the most complex and important areas of state tax practice: California corporate franchise (income) tax. Derived from the well-recognized work on California taxation, California Tax Analysis, this work is reviewed by the nationally known tax consultants--Bruce Daigh, Philip Plant and Matt Stolte, with key sections written by other leading known experts in the area of California tax practice. The seasoned authors and editors provide explanations of the laws, regulations, and decisions that affect California corporation taxes and then go beyond to provide their unique practice perspective. Readers get the guidance, insights and analysis of this difficult area from the viewpoint and experience of a distinguished team of California tax practitioners.

In 23 detailed chapters, the volume covers all aspects of California corporation tax:

• Structure and Imposition

• Gross Income

• Unitary Theory

• Allocation and Apportionment

• Combined Report Mechanics

• California Water's-Edge Election

• Business Deductions

• Depreciation

• Depletion

• Sales and Exchanges

• Accounting Periods and Methods

• Retirement Plans and Distributions

• Tax Credits

• Formation of Corporations

• Dividends and Other Distributions

• Corporate Reorganizations

• Liquidations and Redemptions

• Taxation of S Corporations

• Taxation of Businesses Located in Economic Development Areas

• Administrative Procedures

• Judicial Remedies

• Special Entities

This practical guide is a valuable resource for all tax practitioners, including government enforcers, attorneys, CPAs, controllers, and other professionals, as well as any corporation that does business in California. This brand new edition reflects the all-important 2003 legislative updates for the year.

About the Editors and Authors:

This book is edited by nationally-known leaders in the area of California corporate franchise (income) tax practice:

• Bruce Daigh, Partner, National Practice Leader, State Tax Consulting, PricewaterhouseCoopers LLP, New York City

• Matt Stolte, Partner, West Region Practice Leader, State Tax Consulting, PricewaterhouseCoopers LLP, San Francisco

• Philip Plant, Attorney-at-Law, Sausalito, California.

Important topics are authored by recognized practitioners, including:

• Unitary Theory; Allocation and Apportionment; and Combined Report Mechanics (Ben Miller, Supervising Counsel, Franchise Tax Board, and Kathryn Sommers, Director, State Tax Consulting, PricewaterhouseCoopers LLP, Sacramento)

• Water's-Edge Election (Matthew C. Stolte, Partner, West Region Practice Leader, State Tax Consulting, PricewaterhouseCoopers LLP, San Francisco; Gerald B. Barbo, Partner, PricewaterhouseCoopers LLP, State and Local Tax Consulting Group, San Francisco)

• Tax Credits (Robert A. Reynolds, Manager, State Tax Consulting Group, PricewaterhouseCoopers LLP, Sacramento; Virginia Gates, Partner, PricewaterhouseCoopers LLP)

• Taxation of S Corporations (Roburt J. Waldow, Heller Ehrman White & McAuliffe LLP, San Francisco)

• Taxation of Businesses Located in Economic Development Areas (Thomas R. Bertino, Esq., KPMG LLP, Los Angeles; Phoebe Leigh-Suelflow, Esq.)

• Administrative Procedures (Michael G. DeAngelis, Director, State Tax Consulting Group, PricewaterhouseCoopers LLP, San Francisco; Jeffrey M. Vesely, Esq., Pillsbury Winthrop LLP, San Francisco)

• Judicial Remedies (Jeffrey M. Vesely, Esq., Pillsbury Winthrop LLP, San Francisco)

• Special Entities (Jack Hodges, Attorney, San Francisco

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