Category: Franchise Tax Board|Individual Tax|Real Estate

  • FTB Updates Publication 1016 (Real Estate Withholding Guidelines)

    FTB Updates Publication 1016 (Real Estate Withholding Guidelines)

    California Revenue and Taxation Code Section 18662 and the related regulations require withholding of a 3 1/3% tax at the source from the sale or exchange of California real estate.  The California Franchise Tax Board (FTB) has revised FTB Publication 1016, Real Estate Withholding Guidelines. The revised publication, the purpose of which is to provide…