Trexus

Good job on graduating and being a tax accountant. It's a great field and a specialized one. Yes, there's so much to learn. I've been in taxes for over 15 years and I'm still learning. I worked for two of the Big Four accounting firms, initials are E&Y and D&T.

As for TX state income tax there is none but I believe they still might have a Franchise Tax which is equity based, based off the balance sheet instead of the income statement. Correct me if I'm wrong.

Yes, Toyota will still have to file a CA corporate income tax return but will pay less in CA state income taxes now that they'll be HQ'd in TX. Hopefully that savings will be used for R&D for Toyota/Lexus...

It's sad to see Toyota/Lexus leave CA but they gotta do what they gotta do. Jerry Brown should have never been our Governor. Meg Whitman should have been CA Governor. She's a billionaire and didn't need the job. She wanted to make CA a much better state than it is today..but oh well, as the commercials that used to run against Jerry Brown would say, "Jerry Brown for Governor, hide your wallet"...

mmarshall

Yep.....body side moldings, hood-struts, and real spare tires don't cost THAT much.

Gotta agree with you on Brown. And I noticed that Toyota sure didn't show any signs of leaving the state when Arnie the Terminator was in charge.

4TehNguyen

iTrader: (1)

http://www.window.state.tx.us/taxinf...ise/rates.html

Trexus

The tax savings will be substantial...

CA tax rates and regulations might have been lesser then. Beside taxes aren't the major or only factor Toyota is leaving CA...

Trexus

It appears TX rates are lower than CA...

mmarshall

I was being mostly facetious in my earlier reply....but with at least some truth to it.

For one thing, traffic in SoCal (just like here in the D.C. area) has reached intolerable levels. A business can't function effectively if its employees can't commute to and from the workplace with reasonable ease.

FrankReynoldsCPA

My ideal situation would be working from home, living in a very small town, but within a reasonable distance from a moderate sized city.

Sent from my Nexus 4 using IB AutoGroup

Allen K

iTrader: (4)

Traffic is generally not as big of a deal as you think. Drive the same route for a week and you know how much time to give yourself to get to/from work. Is it perfect? No, because someone will always manage to get in an accident 1-2x a week, but generally speaking, traffic isn't crippling.

mmarshall

It is in some places. SoCal and D.C/Baltimore are, today, considered the two most congested areas in the country. The NJ/NYC/CT area, of course, has more total people. But because of the enormous cab and subway systems there, many more people use mass-transit, and fewer actually own and drive cars. The subway system in the D.C. area, though clean and generally low-crime, is a joke compared to that of NYC.

Allen K

iTrader: (4)

Born and raised there so I'm familiar with the traffic It's just something you deal with and again, after a week or two of commutes, you generally know what to expect from a traffic standpoint

LexBob2

Each major metro area has its own unique traffic issues. No way to avoid it. The Chicago area is no great shakes, but people get by.

chikoo

Between that and the incentive provided by Perry, it should help them with their warranty recalls and unintended acc fines. I hope.

spwolf

well, considering how much money they make, they dont need help for that... They will have 24-25 billion in profits for last FY, and thats their highest profit ever... and almost double the profit of next most profitable automobile company :-)

Byprodrive

iTrader: (1)

I worked at Nissan in the diagnostic developement department as a service manual profreader until Sept 2006. Once we finished the 2007 online manuals the dept was shutdown because only 1 of the 8 people in the dept was willing to move to Tenn. Last I heard before I left Nissan was looking into outsourceing.

Byprodrive

iTrader: (1)

I belive the traffic in Atlanta & Dallas is worse than LA