Instructions For Form 541-Qft - California Income Tax Return For Qualified Funeral Trusts - 1998 Page 3
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Local Agency Military Base Recovery Area
return plus additional tax paid after the original
Form FTB 3535, Manufacturers’ Investment
(LAMBRA) Hiring & Sales or Use Tax –
return was filed. Enter the serial numbers that
Credit;
•
FTB 3807
the FTB stamped on the face of the cancelled
Form FTB 3805Z, Enterprise Zone Deduction
•
Low-Income Housing – FTB 3521
check(s) (for each previous payment if available),
and Credit Summary;
•
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Manufacturers’ Investment – FTB 3535
in the space provided at line 29. If you did not
Form FTB 3806, Los Angeles Revitalization
•
Manufacturers’ Enhancement Area (MEA)
receive a cancelled check or if you made any
Zone Deduction and Credit Summary; or
•
Hiring – FTB 3808
payment(s) with a credit card, attach a statement
Form FTB 3807, Local Agency Military Base
•
showing the check number, the amount of the
Other State Tax – Schedule S
Recovery Area (LAMBRA), Deduction and
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Prior Year Alternative Minimum Tax –
check or charge, the date posted to your account
Credit Summary;
FTB 3510
and the name of the payee (FTB).
include the recapture amount on line 32. Write
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Prison Inmate Labor – FTB 3507
the applicable form number and the recaptured
Line 30 – 1998 CA estimated tax, amount
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Research – FTB 3523
amount to the left of line 32.
applied from 1997 return and payment with
•
Rice Straw – obtain certification from: Rice
form FTB 3563
Line 34 – Credit to your 1999 estimated tax
Straw Tax Credit Program, Department of
Enter the amount of any California estimated tax
Enter the amount from line 33 that you want
Food and Agriculture, 1220 N Street, Room
payment the estate or trust made on Form
applied to your 1999 estimated tax.
409, Sacramento CA 95814
541-ES, Estimated Tax for Fiduciaries, for 1998.
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Salmon & Steelhead Trout Habitat Restora-
Line 35 – Refund or no amount due
Also, enter the amount of any overpayment from
tion – obtain certification from: Department of
If no amount is entered on line 34, enter the
the 1997 return that was applied to the 1998 esti-
Fish and Game, c/o FISH-Timber Tax Credits
amount from line 33 on line 35. This is the
mated tax. Include payments made with form
Program, PO Box 944209, Sacramento CA
amount that will be refunded. If this amount is
FTB 3563, Payment Voucher for Automatic
95244-2090
less than $1, attach a written request to the
Extension For Fiduciaries.
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Targeted Tax Area (TTA) Hiring & Sales or
return to request the refund.
Line 31 – Total payments
Use Tax – FTB 3809
Line 39 – Underpayment of estimated tax
Enter the total amount of all tax payments.
Repealed Credit
penalty
Line 32 and Line 33 – Tax Due/Overpaid Tax
The Los Angeles Revitalization Zone (LARZ) Hir-
If line 32 is $200 or more and more than 20% of
If the amount on line 27 is larger than the
ing & Sales or Use Tax credit has expired. How-
the sum of the tax on line 27, or if the QFT
amount on line 31, your tax is larger than your
ever, the credit had carryover features. You may
underpaid its 1998 estimated tax liability for any
payments and credits. Subtract line 31 from line
claim the credit only if there is a carryover avail-
payment period, it may owe a penalty. The FTB
27. This is the amount of tax due with the return.
able from 1997. If you are not required to com-
will figure the penalty for the estate or trust and
plete Schedule P (541), get form FTB 3540,
If the amount on line 27 is less than the amount
send a bill. Or, the QFT may get form FTB 5805,
Credit Carryover Summary, to figure your credit
on line 31, your payments and credits are larger
Underpayment of Estimated Tax by Individuals
carryover to future years.
than your tax. Subtract line 27 from line 31. This
and Fiduciaries, to see if it owes a penalty and to
is the amount of your overpaid tax.
figure the amount of the penalty. If the QFT com-
Tax and Payments
pletes form FTB 5805, be sure to attach the form
If the trust completed the credit recapture
to the front of Form 541-QFT. Enter the amount
portion of:
Line 28 – California income tax withheld
of the penalty and check the box on line 39.
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Include any California income tax withheld (e.g.,
Form FTB 3501, Employer Child Care
Complete and attach form FTB 5805 if claiming a
back-up withholding).
Program/Contribution Credit;
waiver or using the annualized income
installment method.
Line 29 – California income tax previously
paid
Use this line only if you are filing an amended
return. Enter payments made with the original
Tax Rate Schedule
Use this schedule to figure the tax on the QFT’s taxable income
(Form 541-QFT, line 12). Enter the tax on Form 541-QFT, line 13.
IF THE TAXABLE INCOME IS . . .
COMPUTED TAX IS . . .
over—
but not over—
of the amount over—
$
0
$
5,131
$
0
+
1.0%
$
0
5,131
12,161
51.31
+
2.0%
5,131
12,161
19,193
191.91
4.0%
12,161
+
19,193
26,644
473.19
6.0%
19,193
+
26,644
33,673
920.25
8.0%
26,644
+
33,673
and over
1,482.57
9.3%
33,673
+
Form 541-QFT Instructions 1998
Page 3
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