INSTRUCTIONS: CALIFORNIA S CORPORATION FRANCHISE OR INCOME TAX RETURN (Form 100S)
S Corporations doing business in California file their state franchise and income taxes owed by completing a form 100S. This document, along with all schedules which must be attached, can be found on the website of the California Franchise Tax Board. This article discusses the form for tax year 2011.
California S Corporation Franchise Or Income Tax Return 100S Step 1: At the top of the first page, give the starting and ending dates for which you are filing if not filing on a calendar year basis.
California S Corporation Franchise Or Income Tax Return 100S Step 2: Give your corporation's name and address, your Federal Employer Identification number, and your state-assigned corporation number.
California S Corporation Franchise Or Income Tax Return 100S Step 3: Below this, four Schedule Q questions must be answered about your corporation. Note that these continue on page 2.
California S Corporation Franchise Or Income Tax Return 100S Step 4: Lines 1 through 15 contain instructions for documenting income and calculating state adjustments. To complete the first line, you must first complete Schedule F on the third page.
California S Corporation Franchise Or Income Tax Return 100S Step 5: Lines 16 through 21 contain instructions for determining state net income.
California S Corporation Franchise Or Income Tax Return 100S Step 6: Lines 22 through 30 provide instructions for calculating state tax owed.
California S Corporation Franchise Or Income Tax Return 100S Step 7: Lines 31 through 35 contain instructions for documenting payments already made.
California S Corporation Franchise Or Income Tax Return 100S Step 8: Lines 36 through 42 contain instructions for calculating the refund or payment due.
California S Corporation Franchise Or Income Tax Return 100S Step 9: Schedule J on the second page concerns add-on taxes and the recapture of tax credits. Take the result from line 6 and revise line 36 or line 37 (as applicable) by this number.
California S Corporation Franchise Or Income Tax Return 100S Step 10: Schedule L requires you to detail your assets, liabilities and shareholders' equity.
California S Corporation Franchise Or Income Tax Return 100S Step 11: Schedule M-1 is only for corporations which filed a schedule M-3. Schedule M-2 is for corporations with a state accumulated adjustments account. Document the cost of good sold in Schedule V and shareholder information in Schedule K.
