New Chief Counsel Rulings: Assignment of sales of tangible personal property February 2021 Tax News

In December, we released two Chief Counsel Rulings on guidance as to the assignment of sales of tangible personal property for California franchise and income tax purposes:

• Chief Counsel Ruling 2020-01
• Chief Counsel Ruling 2020-02

An FTB Chief Counsel Ruling is a written statement issued to a taxpayer by our Chief Counsel that interprets California income or franchise tax law and applies it to a taxpayer's specific set of facts.

Visit our Chief Counsel Ruling webpage for different ruling topics.