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September 10th, 2009
California Legislation Voting To Renew $10,000 Home Buyer Tax Credit
The Vote Is Friday September 11
By Tina Stern
The California legislature is voting on Friday September 11, 2009 to renew the California $10,000 home buyer tax. It is widely believed that an extension will be approved. The credit applies to newly constructed, previously unoccupied homes. Condominium conversions also qualify. Californians do not need to be first-time home buyers to take advantage of the credit; nor do they need to meet income requirements.
Requirements For The Credit
1. The home must be a “qualified principal residence” as defined under California Revenue and Taxation Code Section 17059(b)(1). The home must:
- Be a single-family residence, whether detached or attached.
- Never have been previously occupied.
- Be occupied by the taxpayer for a minimum of two years.
- Be eligible for the property tax homeowner’s exemption under California Revenue and Taxation Code Section 218.
2. For over three successive taxable years, the total credit allocated among owners that occupy the home must not exceed $10,000. (Multiple qualified buyers that occupy the home will be allocated credit based on the amount paid and their percentage of ownership.)
3. Any credit that reduced tax on a tax return must be repaid if the buyer does not occupy the home for at least two years immediately following the purchase date.
4. FTB may request documentation to ensure buyers have complied with the requirements of the credit.
To learn more visit New_Home_Credit.shtml
EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.
- Tina Stern
- Web Site
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Posted by Tina Stern on September 10th, 2009
September 4th, 2009
Radford Studios founded by Mack Sennett, Studio City
Mack Sennett, silent film producer and director
by Tina Stern
Did you know, Mack Sennett 0pened his new movie studio at the current Radford Studios location in Studio City? It was renamed Republic Studios and specialized in B-movies, including many Westerns starring the likes of Roy Rogers, Gene Autry, and John Wayne, all of whom get their first breaks with Republic.
In the 1950s many early television series were filmed on the lot including early episodes of Leave It To Beaver. In 1963, CBS Television came into the picture, where it signed a lease with Republic to become the primary lessee of the studio lot, and almost immediately began to place their network-produced filmed shows such as the long running Gunsmoke and Rawhide in production there, and later, the classic comedy, Gilligan’s Island. The piece of land at the northwestern edge of the lot where the lagoon scenes were filmed for Gilligan’s Island were paved over in the mid-1990s to make room for a new parking structure.
The studio lot was renamed the CBS Studio Center. CBS purchased the studio lot outright in April 1967, nearly 39 years to the day after it first opened. CBS invested money to build new soundstages, office buildings, and technical facilities. To make up for these investments, CBS began to rent out its studio lot for independent producers, and the newly-created MTM Enterprises (headed by actress Mary Tyler Moore and her then-husband, Grant Tinker) became the Studio Center’s primary tenant, beginning in 1971.
Moore’s television show, The Mary Tyler Moore Show, began filming here in 1971, along with its spinoffs, Rhoda, Phyllis, and Lou Grant.
- Tina Stern
- Web Site
- " . $name . "
Posted by Tina Stern on September 4th, 2009
