Senator Sharon Runner
FOR IMMEDIATE RELEASE: June 2, 2015
CONTACT: Kendra Kruckenberg (Runner) @ 714.878.8056, Tom Collins (Fuller) @ 916-651-4016
Legislation to Allow Tax Agency to Honor Divorce Agreements Passes Senate
SACRAMENTO – Legislation authored by Senators Jean Fuller (R-Bakersfield) and Sharon Runner (R-Lancaster) to allow California’s tax agency to honor divorce agreements passed unanimously off the Senate Floor today. SB 526, sponsored by Board of Equalization Members George Runner and Fiona Ma, gives the Franchise Tax Board (FTB) flexibility to consider a divorce agreement when determining if one spouse can be relieved of a tax liability.
“SB 526 will provide the FTB with the flexibility to consider the divorce agreement when making a tax liability ruling,” said Fuller. “This flexibility reduces the need for additional expenses and duplicative paperwork helping reduce costs and stress in an already difficult and expensive process.” Continue reading
