Form 100s - California S Corporation Franchise Or Income Tax Return

Computation of Trade or Business Income. See instructions.

Schedule F

a) Gross receipts or sales _______________ b) Less returns and allowances ________________ Balance .

Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gross profit. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Income

Net gain (loss). Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other income (loss). Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total income (loss). Combine line 3 through line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Compensation of officers. Attach schedule. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Salaries and wages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Repairs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Rents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Deduc-

Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

tions

Interest . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

a) Depreciation ____________ b) Less depreciation reported elsewhere on return ____________ Balance

Depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Advertising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Pension, profit-sharing, etc. plans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

a) Total travel and entertainment _______________________________ b) Deductible amount . . . . . . . . . . .

19b

Other deductions. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total deductions. Add line 7 through line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Ordinary income (loss) from trade or business. Subtract line 21 from line 6. Enter here and on Side 1, line 1

Schedule V Cost of Goods Sold

1 Inventory at beginning of year . . . . . . . . . . . . .

5 Other costs. Attach schedule . . . . . . . . . . . . . .

2 Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Total. Add line 1 through line 5 . . . . . . . . . . . . .

3 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . .

7 Inventory at end of year . . . . . . . . . . . . . . . . . .

4 Other IRC Sec. 263A costs. Attach schedule .

8 Cost of goods sold. Subtract line 7 from line 6

Was there any substantial change in the manner of determining quantities, costs, or valuations between opening and closing inventory? . . . . . .

Yes

If “yes,’’ attach an explanation. Enter California seller’s permit number, if any

_____________________ Method of inventory valuation _________________

Check if the LIFO inventory method was adopted this income year for any goods. If checked, attach federal Form 970 . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If the LIFO inventory method was used for this income year, enter the amount of closing inventory computed under LIFO . . . . . . .

____________________

Schedule J

Add-On Taxes or Recapture of Tax Credits. See instructions.

1 LIFO recapture due to S corporation election (IRC Sec. 1363(d) deferral: $__________________) . . . . . . . . . . . . . . . . .

2 Interest computed under the look-back method for completed long-term contracts (attach form FTB 3834) . . . . . . . . . .

3 Interest on tax attributable to installment: a) Sales of certain timeshares and residential lots . . . . . . . . . . . . . . . . . . . .

b) Method for nondealer installment obligations . . . . . . . . . . . . . . . . . . . . . .

4 IRC Section 197(f)(9)(B)(ii) election . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5 Credit recapture name:________________________________________________________________ . . . . . . . . . . .

6 Combine line 1 through line 5. Revise the amount on Side 1, line 38 or line 39, whichever applies, by this amount.

Write “Schedule J’’ to the left of line 38 or line 39 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

____________________________

? . . . . .

K Effective Date of California S election:

E Does this return include Qualified Subchapter S Subsidiaries

Yes

L Accounting method:

(1)

Cash (2)

Accrual (3)

Other

F Date incorporated:__________________

Where: State

Country____________

M Location of principal accounting records: ________________________________________

G Maximum number of shareholders in the corporation at any time during

__________________________________

the year: ______________________

N “Doing business as’’ name:

O Have all required information returns (e.g., federal Form 1099,

H Date business began in California or date income was first derived from

8300, etc.) been filed with the Franchise Tax Board? . . . . . . . . . . . .

N/A

Yes

California sources: _______________________________________________

P Is this corporation apportioning income to California using

Is the corporation under audit by the IRS or has it been audited

Schedule R? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

in a prior year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

Q During the income year, were gross receipts (less returns and

allowances) of this corporation more than $1 million? . . . . . . . . . . . . . . .

Yes

J Effective date of federal S election:

_______________________________________

R Check here if the corporation does not need tax forms mailed next year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is

Please

true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign

Signature of officer

Title

Date

Telephone

Here

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Paid preparer’s SSN/FEIN/PTIN

Preparer’s signature