From Commerce Clearing House (CCH): The California Franchise Tax Board (FTB) has updated its answers to frequently asked questions (FAQs) about the delayed payment of California corporation franchise and income tax and personal income tax refunds. Even though the state budget has been enacted, the state must now determine if there is sufficient cash to pay outstanding debts, including tax refunds. Until then, all refunds continue to be delayed, not just 2008 tax year refunds. That FAQ is here. One question missing from the list is whether taxpayers can send IOUs to the state instead of tax payments. That probably will not be allowed. More on California here.
