Re Full-page ad, July 15: In a full-page ad posted by Dean Cortopassi in which he chastises the governor and the California legislature for overspending revenues, he makes a claim that businesses must file their returns on the accrual basis. He then goes on to lambast the state for failing to hold itself up to the same standard.
This is utter nonsense. There is no requirement by the Franchise Tax Board for corporations to file on the accrual basis. I own a corporation and have been filing on the cash basis for years and there is nothing in the FTB's website that remotely suggests of such a rule.
-- David Brotman, Gold River