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California Tax Forms

California Tax Forms

Individual Income Tax Forms  

Form 540 California Resident Income Tax Return. 

Form 540 2EZ California Income Tax Return

Form 540NR California Nonresident or Part-Year Resident Income Tax Return

From 540NR California Nonresident or Part-Year Resident Income Tax Return Long 

Corporate Income Tax Forms

Form 100 California Corporation Franchise or Income Tax Return 

Form 100S California S Corporation Franchise or Income Tax Return 

Form 100X Amended Corporation Franchise or Income Tax Return

Sales Tax Forms

Exemption Form

Form BOE401 EZ Sales and Use Tax Return (Short Form)

Property Tax Forms

Form 540 California Resident Income Tax Return. 

Form Schedule D-1 Sales of Business Property

Form 3567 Installment Agreement Request

Form 3561 Installment Agreement Financial Statement

Form 3557E Application for Certificate of Revivor


California Tax Forms: An In-Depth Look

Taxes are an inevitable part of life for most Californians, whether they are filing individual income taxes or managing their business taxes. With over 39.5 million residents in the state, it’s no wonder that California has complex tax laws. In this article, we will take an in-depth look at California tax forms, explore the various types of taxes residents are required to file, and provide updated information using government resources.

Understanding California Tax Forms

California tax forms are used to report your income, deductions, and credits for the purpose of calculating the amount of taxes you owe to the state. Filing taxes is an annual responsibility of both individuals and businesses in California. The most commonly used tax forms in California are the Form 540 and Form 540NR for individual taxpayers and Form 100 and Form 100S for corporations.

California tax forms are provided by the California Franchise Tax Board (FTB), the agency responsible for administering California’s tax laws. The FTB is responsible for collecting personal income tax, corporate tax, and other state taxes, such as the tax on cigarettes and tobacco products, motor vehicle fuel tax, and alcoholic beverage tax.

Individual Income Tax Forms

California residents are required to file an individual income tax return with the FTB if they meet certain income thresholds. The income thresholds vary by filing status, with higher income thresholds for married couples filing jointly. For tax year 2020, the income thresholds for single taxpayers under 65 years old were:

– $4,601 for those filing as single
– $9,202 for those filing as head of household
– $18,404 for those filing as married filing separately
– $24,800 for those filing as married filing jointly

The Form 540 is the most commonly used tax form for individual filers in California. This form is used to report income, deductions, and tax credits for the tax year. The FTB provides an online tool called CalFile to help taxpayers complete and file their Form 540 electronically. Using CalFile is free and secure, and it can help filers avoid common errors.

California also provides a Form 540NR for non-residents or part-year residents who earned income in California. This form is similar to Form 540, but with additional sections for reporting income earned outside of California. Non-residents and part-year residents must file Form 540NR if they meet certain income thresholds.

Corporate Income Tax Forms

In addition to individual income taxes, California requires corporations, limited liability companies (LLCs), and partnerships to pay taxes on their net income earned in California. The tax rate for corporations is 8.84% on net income, with some exceptions for small businesses and S corporations.

The most commonly used tax form for corporations is Form 100. This form is used to report California source income, deductions, and credits. If a corporation is doing business in California but is not incorporated in California, it may also be required to file a Form 100S.

Partnerships are required to file a Form 565, which is used to report income, deductions, and credits for the partnership. The partnership itself does not pay taxes, but instead, the income or loss is passed through to the partners who must report it on their individual tax returns.

Employment Tax Forms

Employers in California are required to withhold state income tax from employees’ paychecks and remit the taxes to the FTB. Employers are also required to pay unemployment insurance tax, disability insurance tax, and employment training tax.

The most commonly used employment tax form is the Form DE 9, which is used to report wages, tips, and other compensation paid to employees. The information reported on the Form DE 9 is used to reconcile the withholding amounts reported on the employees’ W-2 forms.

Self-Employment Tax Forms

Self-employed individuals in California are required to pay self-employment taxes on their net income. The self-employment tax rate in California is 15.3% of net income, which consists of 12.4% for Social Security and 2.9% for Medicare.

The most commonly used self-employment tax form is the Schedule SE, which is used to calculate the self-employment tax owed by the taxpayer. The amount of self-employment tax owed is reported on the taxpayer’s individual income tax return.

Property Tax Forms

Property owners in California are required to pay property taxes on their real estate. The amount of property tax owed is based on the assessed value of the property, which is determined by the county assessor. Property taxes are used to fund local government services, such as schools, libraries, and police and fire departments.

The most commonly used property tax form is the Form BOE-571-L, which is used to report changes in the ownership or use of property. This form is required to be filed by property owners when they buy or sell property, change the use of the property, or make improvements to the property.

Sales and Use Tax Forms

California imposes a sales and use tax on certain goods and services sold within the state. The sales tax rate in California is 7.25%, but there may be additional local taxes imposed by cities and counties. The use tax is imposed on purchases made outside of California but used within the state.

The most commonly used sales and use tax form is the Form ST-100, which is used by businesses to report and remit sales and use taxes to the California Department of Tax and Fee Administration. This form must be filed monthly, quarterly, or annually, depending on the amount of tax owed.

Conclusion

California tax forms can be complex and overwhelming, but they are a necessary part of life for most Californians. By understanding the various types of taxes and the forms required to file them, taxpayers can plan ahead and avoid any surprises come tax time. Using government resources, such as the FTB and the California Department of Tax and Fee Administration, can also help taxpayers file their taxes accurately and on time. With this information, we hope that you feel more confident in your ability to navigate California’s tax system.