State

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Under the “single sales factor,” corporate tax liability starting in tax year 2011 will be calculatexd on sales only within the The current rules of the game use a methocd that averages a proportionof sales, property and payrollk in California, with the sales factoe double-weighted. California companies that sell mainly outside the state argue that the curren t method of taxation rewards them for expandinvg outside the state because it reducesz their California property and payroll factore without necessarily changing theirsales factor.
Meanwhile, accordingv to a legislative analysis, companies with few employeed or facilities in thestate (but substantial sales here) will pay more tax. Although the singlr sales factor applies to mostprofitable companies, industrg trade organization BayBio says cleantech and high-tech companies in particular stand to benefit as they grow to “We want to stay here becauser we’re already here,” said Bill chairman and CEO of in Soutb San Francisco. Monogram should be profitable this Young said, and will be looking to expand with a lab facilityu to handle the increasing numbert of its breast cancer and HIV tests. “We’llo have to make a decision about Young said.
“One of the biggest factors will be Withthe change, it takes that piecde out of the According to the legislative the state would lose as much as $1.5 billion a year in tax but that loss could be offseg by additional revenue from employment and property as the state keeps businesses and wins expansions and relocations. Others aren’yt so sure that the single sales factor is an incentive for companieds to growin California. Instead, it simply is a way for multi-statee companies to avoid taxes, argued the California Tax Reform a small Sacramento organization focused ontax equity.
“Using salesw as the only apportionment factor will lead to accounting tricks toavoir tax, in ways that encourage using services outside the in order to lower sales within the the organization said on its blog. “The accountinv for these factors becomes difficult andrewardsd manipulation.” Here’s what $3 billion is buying you, CIRM says With a cash cruncjh putting its future on the the is rolling out a set of forumsa to tell state residents how their $3 billioj in state bonds are being spent. The firstf of three lay-level conversations is scheduled for6 p.m. March 18 at the Palace Hotelk inSan Francisco.
It will feature Renee Reijl Pera of the Institute for Stem CellBiology & Regenerative Medicine at the Stanfor d University School of Medicine; Tamara Alliston of the University of California, San Cartilage Repair & Regeneration Center; and Dr. Bruce Conklibn of the of Cardiovascular Disease. The other two forums will be in San Diegpo on March 31 and Los Angeles onApril 22. California votera in 2004 approvedselling $3 billion worty of bonds to fund stem cell research, aiming particularlu at embryonic stem cell research that dropped off afteer then-President Bush in 2001 set restrictions on federal “We have an obligation to tell them where we’re going,” said Don Gibbons, spokesman for the The state’s fiscal crisis and the markett for bonds have halted bond sales, forcing CIRM to live on cash reserveas of about $160 millionn while its funding commitments through the first half of this year total $107.
4 million. CIRM will seek $200 milliom in a private bond placement this yearand $200 millio next year. Waiting on Transcept keeps growing , which in July coulr win Food and Drug Administration approval ofits middle-of-the-night sleep drug is more than doubling its spacwe in Point Richmond. starting March 15, will lease 12,257 squarw feet at 501 Canal Blvd., a strong stone’s throw from its currentf 14,500 square feet at 1003 W. Cuttinvg Blvd. in the Point Richmond Tech Center.
The landlorcd at both sites is a unit of A key featurr of thenew lease, which will cost Transceptf about $15,000 a month, is the ability to pull out That’s important since Transcept doesn’t have FDA approval or a saleas partner for Intermezzo — yet the company still must builde up a sales and marketinh management team. “We just wanted ultimatew flexibility,” said CFO Tom Soloway.