Sales/Use/Indirect:
California: December 16 Meeting Will Address New Requirements for Localities to Disclose Information on Sales Tax Sharing Agreements Made with Retailers
Discussion Paper, Cal. Dept. of Tax & Fee Admin. (11/26/24). The California Department of Tax and Fee Administration (CDTFA) posted a discussion paper on whether it should propose adopting an emergency regulation to address “the local tax revenue sharing agreement reporting and publication requirements and clarify the imposition of the penalty” provided under recently enacted legislation [see A.B. 2854, signed by. gov. 9/28/24, and State Tax Matters, Issue 2024-40, for more details on this new law] that requires California cities and counties to annually provide specified information to the CDTFA relating to certain sales tax rebate agreements made with retailers. To this end, the CDTFA announced that it will hold a virtual meeting on December 16, 2024 for interested participants to discuss the issue and present any additional suggestions or comments. Additional written suggestions or comments on the issue – including any proposed regulatory language – may be submitted to the CDTFA by December 23, 2024. Please contact us with any questions.
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