California Form 100-We - Water'S-Edge Contract

YEAR

CALIFORNIA FORM

2001

Water’s-Edge Contract

100-WE

Attach this form to the back of Form 100W or Form 100S.

Corporation name

California corporation number

Number and street

PMB no.

City

State

ZIP Code

WATER’S-EDGE CONTRACT

Pursuant to Revenue and Taxation Code (R&TC) Section 25111 and subject to the representations and conditions set forth

herein and in the R&TC, the parties agree and contract as follows:

The Franchise Tax Board (FTB) shall allow the ELECTOR to determine the amount of income derived from or attributable to

sources within this state pursuant to R&TC Section 25110 and related provisions (including incorporated federal provisions, as

may be amended during the contract period); and

The ELECTOR consents to the taking of depositions from key domestic corporate individuals, wherever located, and accep-

tance of subpoenas duces tecum, both as provided in R&TC Section 25110(b)(2)(A), and agrees that the dividends described

in R&TC Section 25110(b)(2)(B) are functionally related and presumed to be business income.

PARTIES:

The parties to this Contract shall be the FTB and _______________________________________, ELECTOR.

Unless subject to a common-parent election, each taxpayer member of the water’s-edge group should file its own

separate contract.

Check here if the common parent is electing on behalf of the water’s-edge group. List each bank or corporation covered

by this contract on Side 2. As the common parent of a controlled group, the bank or corporation hereby contracts for all

members of the controlled group which are includable in the water’s-edge combined report.

Any taxpayer that subsequently becomes a member of the water’s-edge group or is subsequently proved to be a

member of the water’s-edge group will be deemed to have consented to the election subject to the provisions of R&TC

Section 25111 and the regulations thereunder.

MONTH

DAY

YEAR

PERIOD:

The contract shall begin on _______________________________, the first day of the taxable year for which

the election can be made and shall, except as otherwise provided by statute or herein, continue for seven years (84

calendar months) from that date.

RENEWAL:

Unless a notice of nonrenewal is filed at least ninety (90) days prior to the anniversary date, the contract shall

automatically be extended for one year (12 calendar months). The “anniversary date” shall be defined as the later of the

original due date or the due date as extended for the taxable year for which the election was initially made.

TERMINATION:

If the ELECTOR requests, the FTB may, subject to conditions as provided by statute or regulation, allow this

contract to be terminated prior to the expiration of its term.

JURISDICTION:

This is a legally binding contract. Any disputes arising under this contract shall be subject to the laws of the

State of California and the jurisdiction of the Superior Court of the State of California.

__________________________________________________

Electing Corporation Name/Electing Corporation Number

___________________

__________________________________________________

Date

Signature of Officer of Electing Corporation

__________________________________________________

Print or type name and title of signing Officer

SIGN FORM 100-WE AND ATTACH TO FORM 100W OR FORM 100S

KEEP A COPY FOR YOUR RECORDS

100WE01104

Form 100-WE

2001 Side 1

California Form 100-We - Water'S-Edge Contract - 2001

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