Tax Credit

The title of this post is a phrase that appears a lot in court cases and quoted often by administrative agencies. It almost always precedes a negative result for the taxpayer in question and conveniently ignored when a positive outcome is required.

As previously noted, the CA Supreme Court released its opinion yesterday in the matter of Dicon Fiberoptics, Inc v. Franchise Tax Broad. The Court responded to many of Dicon’s arguments directly, siding with the FTB in every instance.

The CA Supreme Court released the opinion in Dicon vs. FTB yesterday. In a unanimous decision the Court reversed the prior decision holding the CAEZ vouchers are not prima facie evidence.