Fillable Form 100-We - Water'S-Edge Contract - 1998 printable pdf download

INCOME YEAR

CALIFORNIA FORM

1998

Water’s-Edge Contract

100-WE

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

Corporation name

California corporation number

Number and street

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

acceptance 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.

This contract shall be effective only if each and every bank and corporation that is or was required to file a return under the

R&TC and that is or was a member of the water’s-edge group at any time during the income year joins in the election.

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 income 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 income 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 100 OR FORM 100S

KEEP A COPY FOR YOUR RECORDS

100WE98109

Form 100-WE

1998 Side 1

Form 100-We - Water'S-Edge Contract - 1998

Related Articles

Related forms

Related Categories