Correction To Ftb Tax Indexing Rates - Franchise Tax Board adjusts California tax rate - Brief Article

California CPA, Jan, 2001

Due to a retroactive correction made by the U.S. Department of Commerce, Bureau of Labor Statistics in the federal inflation rate computation, the FTB announced that California has revised its indexing rates for the 2000 tax year. California personal income tax amounts will be indexed by 3.7 percent rather than 3.6 percent as reported earlier.