In this episode of the SALT Shaker Podcast, Eversheds Sutherland Associates Jeremy Gove and Annie Rothschild delve into a recent decision out of the California Court of Appeal – Metropoulos Family Trust v. Franchise Tax Board. The court ruled for the Franchise Tax Board, affirming the trial court’s decision that non-resident S corporation shareholders are subject to California income tax on their pro rata shares of the income from the S corporation’s sale of shares in a subsidiary.
Jeremy and Annie discuss the case’s background and substance, as well as what this case’s holdings may mean for other California taxpayers.
Jeremy’s overrated/underrated question this week appeals to our fellow coffee drinkers. Is iced coffee overrated or underrated?
Questions or comments? Email SALTonline@eversheds-sutherland.com. You can also subscribe to receive our regular updates hosted on the SALT Shaker blog.
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