Solved: FTB ANNUAL TAX

Tiana

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

Karl

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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Karl

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.

*If this (or another answer/reply) solves your problem, please click "Accept as Solution" to get this post out of the "Unanswered" queue of posts.*

FTB ANNUAL TAX

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