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Lacerte Fix
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Lacerte Fix
Lacerte Fix
Submitted by rliptzin on 06-13-2023 01:30 PMPage 20 of the instructions regarding Line 15.
S corporations who meet the protections of Public Law 86-272 are exempt from state taxes based upon, or measured by, net income. However, they still are subject to the annual minimum franchise tax if they are doing business in, incorporated in, or qualified to transact intrastate business in California. If S corporations are claiming immunity in California under Public Law 86-272, do not include their net income or loss on line 15 and write "PL 86-272" at the top of Form 100S.
I need to type "PL 86-272" at the top of Form 100S on the Form 100S but Lacerte does not allow me to do so. I am being told that they will not be able to do a software fix. It is totally unacceptable.
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