Tax,
Government
Mar. 28, 2022
Trusts can’t relitigate claims of tax exemption
The Franchise Tax Board responded in court filings that just because one trustee does not live in California, that does not mean the collective of trustees can claim half the money it gained from the sale of Century Theatres is not taxable by California.
The California Franchise Tax Board was able to successfully fend off claims about 160 trusts that said they overpaid taxes when they sold Century Theatres in 2006. Superior Court Judge Suzanne R. Bolanos on Friday granted the board’s motion for summary judgment to block plaintiffs from moving forward with their claims.
The trustees are the progeny of Century Theatres founder Raymond J. Syufy, and they claimed they erroneously reported all...
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