California Form 593-C Draft - Real Estate Withholding Certificate

YEAR

CALIFORNIA FORM

593-C

2007

Real Estate Withholding Certificate

Part I – Seller’s Information

Return this form to your escrow company.

Name (including spouse, if jointly owned - see instructions - type or print)

SSN/ITIN, FEIN or CA Corp. No.

Address (number and street, PO Box, rural route, apt no., or PMB no.)

Spouse’s SSN/ITIN (if jointly owned)

City

State

ZIP Code

Note: If you do not furnish your tax ID number, this

certificate is void and withholding is required.

Property address (if no street address, provide parcel number and county)

Ownership Percentage

.

%

Read the following and check the appropriate boxes. (See line-by-line notes in the instructions.)

Part II – Certifications which fully exempt the sale from withholding:

YES NO

. Does the property qualify as the seller’s (or decedent’s, if being sold by the decedent’s estate) principal residence within the meaning

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of Internal Revenue Code (IRC) Section 121? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. Did the seller (or decedent, if being sold by the decedent’s estate) last use the property as the seller’s (decedent’s) principal residence

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within the meaning of IRC Section 121 without regard to the two-year time period? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. Will the seller have a loss or zero gain for California income tax purposes on this sale? (To check YES, you must complete

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Form 593-E, Real Estate Withholding — Computation of Estimated Gain or Loss, and have a loss or zero gain on line 16.) . . . . . . . . . . . . . . . . .

4. Is the property being compulsorily or involuntarily converted and does the seller intend to acquire property that is similar or related

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in service or use to qualify for nonrecognition of gain for California income tax purposes under IRC Section 1033? . . . . . . . . . . . . . . . . . . . . . . .

5. Will the transfer qualify for nonrecognition treatment under IRC Section 351 (transfer to a corporation controlled by the

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transferor) or IRC Section 721 (contribution to a partnership in exchange for a partnership interest)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6. Is the seller a corporation (or an LLC classified as a corporation for federal and California income tax purposes) that is either qualified

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through the California Secretary of State or has a permanent place of business in California? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7. Is the seller a partnership (or an LLC that is classified as a partnership for federal and California income tax purposes and is not a

disregarded single member LLC) with recorded title to the property in the name of the partnership or LLC?

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(If yes, the partnership or LLC must withhold on nonresident partners or members as required.) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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8. Is the seller a tax-exempt entity under either California or federal law? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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9. Is the seller an insurance company, individual retirement account, qualified pension/profit sharing plan, or charitable remainder trust? . . . . . . .

Part III – Certifications that may partially or fully exempt the sale from withholding:

Escrow Officer: See instructions for amounts to withhold.

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0. Will the transfer qualify as a simultaneous like-kind exchange within the meaning of IRC Section 1031? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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. Will the transfer qualify as a deferred like-kind exchange within the meaning of IRC Section 1031? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. Will the transfer of this property be an installment sale that you will report as such for California tax purposes and has the

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buyer agreed to withhold on each principal payment instead of withholding the full amount at the time of transfer? . . . . . . . . . . . . . . . . . . . . . . .

Part IV – Seller’s Signature

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 the Franchise Tax Board may review relevant escrow documents to ensure withholding compliance

and that completing this form does not exempt me from filing a California income or franchise tax return to report this sale.

Seller’s Name and Title ____________________________________ Seller’s Signature ________________________________ Date _________________

Spouse’s Name __________________________________________ Spouse’s Signature ______________________________ Date _________________

Seller:

If you checked YES to any question in Part II, you are exempt from real estate withholding.

If you checked YES to any question in Part III, you may qualify for a partial or complete withholding exemption.

If you checked NO to all of the questions in Part II and Part III, the withholding will be 3

/

% (.03333) of the total sales price or the alternative

1

3

withholding amount certified by seller in box 8 of Form 593-B.

If you are withheld upon, the withholding agent should give you two copies of Form 593-B, Real Estate Withholding Tax Statement. Attach one copy to

the lower front of your California income tax return and keep the other copy for your records.

7131063

Form 593-C

2006

C2

For Privacy Notice, get form FTB 1131.