INSTRUCTIONS: CALIFORNIA CORPORATION FRANCHISE OR INCOME TAX RETURN (Form 100)
California corporations must complete a form 100 to file their franchise or income tax due to the state. This document can be obtained from the website of the California Franchise Tax Board. A full packet of instructions for this form is also available on this website. This article discusses the form made available for tax year 2011.
California Corporation Franchise Or Income Tax Return 100 Step 1: At the top of the page, if you are not filing on a calendar year basis, give the starting and ending dates of your financial year.
California Corporation Franchise Or Income Tax Return 100 Step 2: Provide your corporation's name, address and identifying numbers.
California Corporation Franchise Or Income Tax Return 100 Step 3: Schedule Q questions begin on the first page and continue on the second. All questions must be answered.
California Corporation Franchise Or Income Tax Return 100 Step 4: Skip to Schedule F on the third page. Compute your net state income as instructed and transfer the results to line 1 on the first page.
California Corporation Franchise Or Income Tax Return 100 Step 5: Follow the instructions on the first page to complete lines 2 through 4.
California Corporation Franchise Or Income Tax Return 100 Step 6: Skip to Schedule D on the fifth page. Compute your capital gains or losses as instructed and transfer the result to line 5.
California Corporation Franchise Or Income Tax Return 100 Step 7: Return to the first page. Lines 6 through 18 provide instructions to compute your net business income or loss. Lines 19 through 23 concern your net state income. Lines 25 through 31 concern computation of state tax owed. Lines 32 through 36 concern tax payments already made.
California Corporation Franchise Or Income Tax Return 100 Step 8: Lines 37 through 43 on the second page concern refunds or taxes due.
California Corporation Franchise Or Income Tax Return 100 Step 9: An officer should sign and date the second page.
California Corporation Franchise Or Income Tax Return 100 Step 10: Schedule J on the third page is for corporations for whom add-on taxes or recaptured tax credits apply. Schedule V requires you to detail the cost of good sold. Schedule L requires you to detail your balance sheet. Schedules M-1 and M-2 require you to provide further financial details.
