Franchise Tax Board Simplifies Small Business Filings

Franchise Tax Board Announces Major Overhaul to Simplify Tax Filing for Small Businesses

Sacramento, CA – April 15, 2025 – In a move aimed at easing the burden on small business owners, the California Franchise Tax Board (FTB) has unveiled a sweeping set of reforms designed to streamline tax filing and reduce penalties for first-time errors.

The changes, set to take effect in the 2026 tax year, include a new 'Small Business Tax Relief Initiative' that will simplify forms, extend filing deadlines for qualifying businesses, and offer a one-time penalty waiver for minor filing mistakes. FTB officials say the goal is to make compliance easier while maintaining accountability.

'Small businesses are the backbone of California’s economy, and we want to ensure they can focus on growth rather than getting bogged down by complex tax rules,' said FTB Director Tanya M. Smith at a press conference Monday.

Key Changes Include:

Simplified Online Portal: A redesigned digital platform with step-by-step guidance for new business owners.

Extended Deadlines: Qualifying businesses with under $1 million in revenue will get an extra 30 days to file.

Penalty Relief Program: First-time late filers can apply to have fines waived if corrected within 60 days.

The announcement comes after years of complaints from entrepreneurs about confusing paperwork and harsh penalties for minor errors. Advocacy groups, including the California Small Business Association, praised the reforms but urged further action on reducing overall tax burdens.

Critics, however, warn that the state could lose millions in revenue if enforcement weakens. FTB officials insist the changes will improve compliance in the long run by fostering better taxpayer relationships.

For more details, business owners can visit the FTB’s updated website at www.ftb.ca.gov starting next month.

— Reported by Maria Gonzalez, The Sacramento Chronicle

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