CVV News l May 18, 2023
SACRAMENTO – Today Governor Gavin Newsom issued a statement following the announcement by the Walt Disney Company that the corporation is backing out of its nearly $1 billion office complex that was scheduled for construction in Orlando, Florida. Instead, the company — and more than 2,000 jobs — will stay in California.
“Authoritarian policies have consequences,” said Governor Newsom. “This announcement is a victory for California, and the tens of thousands of Disney employees who know they can live in a state where they are respected and safe. Disney has invested billions of dollars in California, and we look forward to their increased investment and growth in our state.”
Disney’s action follows the Governor’s ongoing conversations with the company and the public urging for the entertainment giant to continue to grow and invest in its home state of California.
California’s economy continues to dominate the nation and the Golden State is poised to soon become the fourth-largest economy on planet Earth. California, which has the most equitable tax system in the entire country, is #1 in the nation for new business starts, #1 for access to venture capital funding, and #1 for tourism spending. Business license applications are up 46.6% in California since this time last year – the biggest increase of any state.
Gov. Newsom Appoints Joe Stephenshaw to Lead State Department of Finance
CVV News l March 02, 2023
WHAT YOU NEED TO KNOW: California is extending the tax filing deadline for Californians impacted by December and January winter storms to October 16, 2023 – aligning with the IRS
SACRAMENTO – In addition to tax relief measures that Governor Gavin Newsom announced in January, California is also extending the state tax filing and payment due dates to October 16, 2023 for Californians impacted by the winter storms in December and January. This aligns California with the Biden Administration, which announced that the IRS extended various due dates until October 16, as well.
“As communities across the state continue recovering from the damage caused by the winter storms, California is working swiftly to help recovering Californians get back on their feet,” said Governor Newsom. “The state is aligning with the Biden Administration and extending the tax filing deadline in addition to the tax relief announced earlier this year.”
Last month, Governor Newsom announced tax relief for those impacted by winter storms, giving people the ability to claim a deduction for disaster loss and extending certain filing deadlines.
Residents and businesses in Alameda, Alpine, Amador, Butte, Calaveras, Colusa, Contra Costa, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Inyo, Kings, Lake, Los Angeles, Madera, Marin, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Riverside, Sacramento, San Benito, San Bernardino, San Diego, San Francisco, San Joaquin, San Luis Obispo, San Mateo, Santa Barbara, Santa Clara, Santa Cruz, Siskiyou, Solano, Sonoma, Stanislaus, Sutter, Tehama, Trinity, Tulare, Tuolumne, Ventura, Yolo, and Yuba counties who have been affected by severe winter storms, flooding, landslides, and mudslides are eligible for tax relief.
To help alleviate some of the hardship many have endured during this trying period, the FTB has extended the filing and payment deadlines for individuals and businesses in California until October 16, 2023.
This relief applies to deadlines falling on or after January 8, 2023, and before October 16, 2023, including the 2022 individual income tax returns due on April 18 and the quarterly estimated tax payments, typically due on January 17, 2023 and April 18, 2023. Those payments were previously extended to May 15, 2023 for those impacted by winter storms.
The IRS announced tax relief for Californians affected by these winter storms. Taxpayers affected by these storms qualify for an extension to October 16, 2023 to file individual and business tax returns and make certain tax payments. This includes:
- Individuals whose tax returns and payments are due on April 18, 2023.
- Quarterly estimated tax payments due January 17, 2023, April 18, 2023, June 15, 2023, and September 15, 2023.
- Business entities whose tax returns are normally due on March 15 and April 18.
- PTE Elective Tax payments due on June 15, 2023.
CLAIMING DISASTER LOSSES
Taxpayers affected by a presidentially declared disaster may claim a deduction for a disaster loss. Taxpayers may claim a disaster loss when filing either an original or amended tax year 2022 tax return.
When filing their return, taxpayers should write the name of the disaster in blue or black ink at the top of their tax return to alert FTB. If filing electronically, taxpayers should follow the software instructions to enter disaster information. If a taxpayer receives a late filing or payment penalty notice related to the postponement period, they should call the number on the notice to have the penalty abated.
Additional information and instructions are available in FTB Publication 1034, 2022 Disaster Loss: How to Claim a State Tax Deduction.
Disaster victims can receive free copies of their state returns to replace those lost or damaged. To do so, they should use form FTB 3516 and write the name of the disaster in blue or black ink at the top of the request.
For a complete list of all disasters declared in California, see the chart on FTB’s disaster loss webpage.
Gov. Newsom Appoints Joe Stephenshaw to Lead State Department of Finance
CVV News l July 11, 2022
SACRAMENTO – Governor Gavin Newsom announced the appointment of Joe Stephenshaw as Director of the California Department of Finance, filling the role held by Keely Martin Bosler since 2018.
“Throughout unprecedented challenges and opportunities, Keely has expertly steered the state’s finances with a commitment to expanding opportunity, improving the lives of Californians and maintaining a solid fiscal foundation,” said Governor Newsom. “Confronted with the pandemic-driven economic crisis, Keely led our work to provide historic relief to get Californians back on their feet and lay the groundwork for our recovery, all while moving the state forward on key priorities – from climate action to health care access, addressing homelessness, and early childhood education. Keely has never lost sight of the everyday realities of Californians in every corner of our state, centering equity and compassion in her wide-ranging work over two decades in public service. I’m deeply grateful to Keely for lending her exceptional leadership, talents, unique perspective and profound dedication to our work to build a better future for all Californians.”
Stephenshaw has served as Senior Counselor on Infrastructure and Fiscal Affairs in the Office of the Governor since March 2022.
“Joe’s deep knowledge and experience of the state’s finances and the role that budgets play in moving our priorities forward – expanding opportunity, protecting public safety and fighting climate change – make him uniquely qualified to be California’s next Director of Finance,” added Governor Newsom. “I thank him for stepping up to lead our accomplished team at the Department of Finance as we continue to invest in California values and build stability for years to come.”
Joe Stephenshaw, 47, of Sacramento, has been appointed Director of the California Department of Finance. Stephenshaw was Staff Director for the Senate Budget and Fiscal Review Committee from 2017 to 2022. He held multiple positions in the California Legislature from 2008 to 2017, including serving as a Policy Consultant in the Office of the Senate President pro Tempore, a Special Advisor to the Speaker of the Assembly, and as a Budget Consultant for both the Assembly Budget Committee and the Senate Budget and Fiscal Review Committee. Stephenshaw was a Budget Analyst for the California Department of Finance from 2005 to 2008. Stephenshaw earned a Master of Business Administration degree from California State University, Sacramento. This position requires Senate confirmation and the compensation is $227,178. Stephenshaw is a Democrat.