Settlement Structure: Claims Made
Active: Closed
Closed Settlement Statement:
According to court documents, the claim submission deadline has passed. Please contact the claims administrator if you have any questions.
Case Summary:The California Franchise Tax Board has agreed to settle class actions about the LLC levy it imposed on limited liability corporations for tax years 1994 through 2006. During this time, LLCs were required to pay an annual levy, or fee, based on their total worldwide income, regardless of whether that income came from activities in or outside of California. The complaint alleged that the levy was unconstitutional.
Docket Number:Judicial Council Coordination Proceeding No. 4742
Company: California Franchise Tax Board
Filing Deadline: July 5, 2022
Class Period: January 1, 1994 to December 31, 2006
Objection Deadline: July 5, 2022
Exclusion Deadline: July 5, 2022
Final Approval Hearing: August 2, 2022
Proof of Purchase:You do not have to have documentation, but you may be able to claim a large refund with documentation.
Eligibility:You may be eligible if you are or have an LLC that derives its income from business operations solely within California, within and without California, or solely without California, that has paid the levy and filed timely claims for a tax refund of the levy, that has had its claim for a refund deemed denied or denied and whose period for filing a lawsuit under Rev. & Tax. Code § 19382 remained open as of the filing of either the Bakersfield Complaint on April 25, 2007 or the Centerside Complaint on February 4, 2010.
Typical Settlement Amount:About $15 million is expected to be left as the net settlement fund to be used for paying refunds. Claims will be divided into four categories and the four groups will receive different proportional amounts of what they paid as refunds. For more information on how the funds will be distributed, see the Notice at https://angeion-public.s3.amazonaws.com/www.FTBLLCTaxSettlement.com/docs/FTB_Long+Form+Notice_FINAL_website_04.28.2022.pdf.
Total Settlement Amount: $22 million
Class Representative Proposed Incentive Fee:$10,000 in total
Law Firms:
Calvo Fisher and Jacob LLP
Silverstein & Pomerantz, LLP
Claim Form: California FTB Limited Liability Corporation Tax Settlement Claim Form
Case Name: FTB Limited Liability Corporation Tax Refund Cases
Settlement Website: California FTB Limited Liability Corporation Tax Settlement Website
Claims Administrator:
Angeion Group
FTB LLC Tax Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
info@FTBLLCTaxSettlement.com
888-874-5887