Tax Extension and Assistance
Businesses may be eligible for an extension on submitting federal tax filings. See IRS Publication 547 for more information.
State Disaster Loss Tax Deduction
Businesses may be eligible for a state tax deduction equal to the change in market value of the property minus the value of insurance payouts. If a business owner has no insurance, they can still claim a disaster loss. Business owners can apply the loss to the current tax year, or to the previous tax year to generate a quick tax refund. For more information read Franchise Tax Board Publication 1034.
State of Emergency Tax Relief
Emergency tax or fee relief is available from the California Department of Tax and Fee Administration (CDTFA) for taxpayers who have been directly affected by disasters declared as state of emergencies, both within California and nationally. Available services may include the extension of tax return due dates, relief of penalty and interest, or replacement copies of records lost due to disasters.
Extension on filing State payroll reports and taxes.
California Economic Development Department
Insurance coverage may vary based on your provider and policy type. For general questions, the California department of insurance may be a resource. Specific questions should be addressed by your insurance provider. Learn more by calling your insurance agent.
Calamity Provision Property Reassessment
Properties damaged or lost by disasters can be reassessed at a lower property tax value. Visit the County Assessor’s Office for more information. Residents or business owners whose property suffered more than $10,000 in value loss may be eligible.
Qualified Contaminated Property Reassessment
A resident or business owner may transfer the base year value of a property to a new, replacement property if the old property is unfit to live in (residential) or to use (nonresidential). Property must be designated as toxic or an environmental hazard (chemicals, petroleum, hazardous materials, etc. released by the fire) to be eligible.
Sales and Use Exception Tax Credits for Manufacturing
Businesses may qualify for partial or full exemption of state sales and use tax on certain manufacturing and research equipment purchases and leases. Eligibility includes manufacturing, biotechnology, alternative energy, and physical, engineering, and life sciences companies.
Sales and Use Exception Tax Credit for Agriculture
5% state sales tax exception for the sale, storage, use, or consumption of new farm equipment or parts. Eligibility includes livestock/agricultural businesses, including horse farms and vineyards. SIC Codes 0111-0291 and 07110783.
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