My client meets Exceptions to the first year FTB annual tax. How to remove the default calculated by the system Lacerte. It's line 21 of 100S
Best Answer Click here
Screen 42.011 checkbox (code 16) "Initial return in California"
FYI to be clear, the exemption is only for the minimum $800 franchise tax. There is still a franchise tax of 1.5%, so if your client was profitable in year 1, there will still be some franchise tax.
Screen 42.011 checkbox (code 16) "Initial return in California"
FYI to be clear, the exemption is only for the minimum $800 franchise tax. There is still a franchise tax of 1.5%, so if your client was profitable in year 1, there will still be some franchise tax.
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