O’Melveny’s Moritz, Abbot Co-Author Article on California Tax on Asset Manager Fees

August 05, 2015 O'Melveny & Myers partner Luc Moritz and associate Billy Abbott co-authored the July 17, 2015, Law360 article, "California Tax on Asset Manager Fees Would Have Wide Reach."  The article describes the California Franchise Tax Board's proposed amendment to the California Code of Regulations (CCR) Title 18, Section 25136-2.  The proposed amendment "would impose California income tax on certain fees received by asset managers regardless of whether the relevant funds to which an asset manager provides services or the asset manager itself maintain any presence in California,” the authors write.

Moritz resides in O’Melveny’s Los Angeles office and Abbot resides in the Silicon Valley office.  They both are members of the Firm’s Tax Practice.