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- CA M-1 and M-2 Inquiry & ERC implementation
CA M-1 and M-2 Inquiry & ERC implementation
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jinyounc057
Level 1
06-16-2023
11:26 AM
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Hello,
My question is regarding the Schedule M-1 and Schedule M-2 for the State of CA.
1) Should the schedule M-2 basically be the beginning retained earnings plus/minus the Schedule M-1 Net income?
2) If #1 above is true, then for items like the Employee Retention Credit (ERC) will I have to make an adjustment on Schedule M-2 to show that it increases the retained earnings balance?
3) For items such as the Corp State Minimum tax ($800) will this also have to be adjusted on schedule M-2 since it increases retained earnings for the State of CA? (Taxable)
Thank you
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