Form Ftb 3531 - California Competes Tax Credit - 2016
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1
2TAXABLE YEAR
CALIFORNIA FORM
3531
2016
California Competes Tax Credit
Attach to your California tax return.
Name(s) as shown on your California tax return
SSN or ITIN
CA Corporation no.
FEIN
California Secretary of State file number
Name of credit owner. See instructions.
CA Corporation no.
FEIN
California Secretary of State file number
Part I Credit Allocation and Credit Earned. See Instructions.
(a)
(b)
(c)
Tax year
Credit allocation amount from the agreement
Current year credit earned
1 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2015 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2016 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2017 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2020 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
00
00
2 Total amounts in column (c). Enter the total here and on Part II, line 3 . . . . . . . . . . . . . . . . . . . . . . 2
00
Part II Available Credit
3 Credit amount from Part I, line 2, column (c). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
00
4 Pass-through California Competes Tax Credit from Schedule K-1 (100S, 541, 565, or 568). See instructions . . 4
00
5 Current year credit. Add line 3 and line 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
00
6 Credit carryover from prior year(s). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
00
7 Total available California Competes Tax Credit. Add line 5 and line 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
00
8a Credit claimed. Enter the amount of the credit claimed on the current year tax return. See instructions.
(Do not include any assigned credit claimed on form FTB 3544A.). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8a
00
b Total credit assigned. Enter the total amount from form FTB 3544, column (g).
If you are not a corporation, enter -0-. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8b
00
9 Credit carryover available for future years. Add line 8a and line 8b, subtract the result from line 7 . . . . . . . . . 9
00
Part III Credit Recapture
10 Credit recapture. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
00
General Information
B Description
The California Competes Tax Credit (CCTC) is available for taxable years
A Purpose
beginning on and after January 1, 2014, and before January 1, 2025,
to businesses that enter into a CCTC Allocation Agreement (credit
Use form FTB 3531, California Competes Tax Credit, to report the credit
agreement) with the Governor’s Office of Business and Economic
amount earned and claimed for the current year, the amount to carryover
Development (GO-Biz). Tax credit agreements are negotiated by GO-Biz
to future years, and any amount recaptured. Also use this form to claim
and approved by the California Competes Tax Credit Committee. For
pass-through credits, received from S corporations, estates, trusts,
more information, go to the GO-Biz website at business.ca.gov and
partnerships, or limited liability companies (LLCs).
search for ca competes.
S corporations, estates, trusts, partnerships, and LLCs should complete
C Qualifications
form FTB 3531 to figure the amount of credit to pass through to
shareholders, beneficiaries, partners, or members. Attach this form
To claim the CCTC, a taxpayer must have entered into a credit agreement
to Form 100S, California S Corporation Franchise or Income Tax
with the GO-Biz and met the terms and conditions in the credit
Return; Form 541, California Fiduciary Income Tax Return; Form 565,
agreement. The credit is allocated by taxable year as specified in the
Partnership Return of Income; or Form 568, Limited Liability Company
credit agreement. As part of the credit agreement, a taxpayer commits
Return of Income. Show the pass-through credit for each shareholder,
to meet and maintain yearly employment and project investment
beneficiary, partner, or member on Schedule K-1 (100S, 541, 565,
or 568), Share of Income, Deductions, Credits, etc.
FTB 3531 2016 Side 1
8441163
For Privacy Notice, get FTB 1131 ENG/SP.
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