Smith v. California Franchise Tax Board CA4/1
Alicia and David Smith (collectively, the Smiths) appeal from a judgment in favor of the California Franchise Tax Board (FTB) after the trial court concluded that the FTB did not owe the Smiths a refund for taxes paid on monetary gains from the sale of real property.
After selling certain property in San Diego County in 2003, the Smiths purchased additional properties, including an apartment building on McDowell Road in Scottsdale, Arizona (McDowell Road Property).
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