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Oct 24, 2013

California Reduces Rate of Section 409A State Excise Tax

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In a positive development for employees, California recently reduced its excise tax rate for failures to comply with the California analog to Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”). California Assembly Bill 1173, which was signed into law on October 4, 2013, provides that, for taxable years beginning January 1, 2013, the excise tax rate imposed by California for non-compliance with California’s equivalent of Section 409A has been reduced from 20% to 5%.

View full memo, "California Reduces Rate of Section 409A State Excise Tax"

Authors and Contributors

Doreen E. Lilienfeld

Partner

Compensation, Governance & ERISA

+1 212 848 7171

+1 212 848 7171

New York

John J. Cannon III

Partner

Compensation, Governance & ERISA

+1 212 848 8159

+1 212 848 8159

New York

Kenneth J. Laverriere

Partner

Compensation, Governance & ERISA

+1 212 848 8172

+1 212 848 8172

New York

Linda Rappaport

Of Counsel

Compensation, Governance & ERISA

+1 212 848 7004

+1 212 848 7004

New York

Laurence Crouch

Partner

Tax

+1 650 838 3718

+1 650 838 3718

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