California taxes by industry, according to the North American Industry Classification System (NAICS), which replaced the U.S. Standard Industrial Classification (SIC) system.
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The purpose of this handbook is to provide auditors with an overview of how the financial industry operates, identification of issues unique to the financial industry, techniques on how to develop the facts relative to the issues, and the department's position on the issues (Revised: October 2003).
A brief summary of the California State Board of Equalization ruling in Appeals of Bechtel Power Corporation, et al., March 19, 1997, which held that the cost of client-furnished materials under a cost-plus contract should be included in the contractor's sales factor of the apportionment formula.