California ~ Corporate, Personal Income Taxes: Guidance on New Business Entity Return Due Dates Updated

first_imgCCH Tax Day ReportThe California Franchise Tax Board updated staff guidance concerning recent changes to business entity return due dates. Among other things, the original guidance (TAXDAY, 2017/03/31, S.2) noted that C corporation returns (Forms 100 and 100W) now must be filed by the 15th day of the fourth (previously, third) month following the close of the tax year, but that the “calculate to” date for the estimate penalty remains unchanged as the 15th day of the third month. As a result, 2016 tax year Form 100 and 100W returns were being held and not processed until the calculation adjustment for the estimate penalty was in place. The updated guidance states that the Business Entity Tax System (BETS) has been reprogrammed to calculate the penalty to the 15th day of the third month, and that 2016 tax year Form 100 and 100W returns posted to BETS on or after March 27, 2017, should have a correct estimate penalty amount in BETS. Other minor changes to the original guidance were also made.The full text of the bulletin is available at Service Bulletin 17.14, California Franchise Tax Board, April 17, 2017last_img

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