Form 597-W - Withholding Exemption Certificate And Nonresident Waiver Request For Real Estate Sales - California

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YEAR
Withholding Exemption Certificate and
CALIFORNIA FORM
Nonresident Waiver Request for Real Estate Sales
597-W
Part I
Seller’s Information
Name
Social Security Number/California Corporation No./FEIN
Street Address
PMB no.
City, State, ZIP Code
Phone Number
Ownership
Percentage
Property Address (if no street address, provide parcel number and county)
Buyer’s Information
Name
Social Security Number/California Corporation No./FEIN
Street Address
PMB no.
City, State, ZIP Code
Phone Number
If there is more than one seller, attach a separate sheet listing additional seller’s information.
Read the following and check the boxes as they apply to the seller (see General Information C, Exemptions from
Withholding (Part I) for definitions and details for each area):
YES
NO
1. Is the total sales price of this property $100,000 or less? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Are you a resident of California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Does the property being sold qualify as your principal residence? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. Are you a corporation registered in California or that has a permanent place of business in California? . . . . . . . . . . . . . . . . . . . . . . .
5. Are you a partnership or a limited liability company with recorded title to the
property in the name of the partnership or limited liability company? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6. Are you a tax-exempt entity? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7. Are you an irrevocable trust with at least one trustee who is a California resident? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8. Are you an estate where the decedent was a California resident at the time of death? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9. Are you a bank or a bank acting as a fiduciary for a trust? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10. Are you an insurance company, IRA, or qualified pension/profit sharing plan? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Under penalties of perjury, I hereby certify that the information provided above is, to the best of my knowledge, true and correct. If conditions change, I will
promptly inform the withholding agent
. I understand that completing this form does not exempt me from filing a California income tax return to report this sale.
Seller’s Signature_____________________________________________________________________________ Date:_______________________
If you answered “YES” to any of the above questions, STOP HERE. You are exempt from the nonresident withholding requirements. Provide this form to
your escrow company or the buyer (withholding agent).
If you answered “NO” to all of the above questions, you are subject to the nonresident withholding requirements. The required withholding is 3 1/3% of the
total sales price. Do you believe that your estimated tax liability from the sale of this property will be less than the required withholding amount?
Yes.
Complete the Waiver Request Section on Side 2 and send this form to the Franchise Tax Board.
No.
STOP HERE. Your escrow person will withhold 3 1/3% of the total sales price and send it to the Franchise Tax Board on your
behalf. Obtain the seller’s copy of Form 597, Nonresident Withholding Tax Statement for Real Estate Sales, to attach to your
California income tax return when you file and claim the withholding amount.
597W99109
Form 597-W
Page 1
(NEW 1999)
For Privacy Act Notice, get form FTB 1131.

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