Franchise Tax Board: State Board of Equalization: study.

Existing law requires the Franchise Tax Board to administer the Personal Income Tax Law and the Corporation Tax Law, and requires the State Board of Equalization to administer various other taxes. This bill would require the Franchise Tax Board and the State Board of Equalization, before January 1, 2014, to jointly conduct a study and deliver a report to the Legislature determining the cost of administration and compliance with the Revenue and Taxation Code, as provided, and to determine how much revenue is being lost by California's economy due to its complex system of taxation.