The primary substance of the newsletter, however, is a reminder from California about the appropriate "rules of jurisdiction." While the entry purports to provide a "remind[er]" about the jurisdictional reporting rules, it is also clear that California issuing a thinly-veiled warning to holders that all California property (no matter how de minimis) should be reported to California as opposed to other states.
Among the warnings:
- Even if a another state is willing to receive "incidental" California items, California will still assess an "interest penalty";
- Late reports will be subject to a "late filing interest assessment";
- Other states cannot indemnify a holder for California property delivered to another state.