Existing law establishes, in the Government Operations Agency, the Franchise Tax Board consisting of the Controller, the Director of Finance, and the Chairman of the State Board of Equalization. Existing law prescribes various powers and duties to the Franchise Tax Board, including, among other things, the administration of state personal income taxes and corporation franchise and income taxes.
This bill, beginning July 1, 2025, would remove the Chairperson of the State Board of Equalization from the membership of the Franchise Tax Board, and would instead make the Treasurer a member of the Franchise Tax Board.