California Form 3540 - Credit Carryover And Recapture Summary - 2016
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4Credit Carryover and
TAXABLE YEAR
CALIFORNIA FORM
Recapture Summary
2016
3540
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
Part I – Credit Carryover
(a)
(b)
(c)
(d)
(e)
Code
Name of
Credit carryover available
Credit carryover
Credit carryover to
repealed credit
from prior years
used this year
future years
Part II – Credit Recapture (See Credit Recapture Instructions)
(a)
(b)
(c)
Total credit claimed for all years
Proration percentage:
Credit recapture amount
Employer Childcare
(60 months less number of months facility
column (a) x column (b)
Program Credit (ECPC)
operated ÷ 60 months)
.
Code 189
(a)
(b)
(c)
Total credit claimed for all years
Proration percentage:
Credit recapture amount
Farmworker Housing
(360 months less number of months facility
column (a) x column (b)
Credit (FWHC)
operated ÷ 360 months)
.
Code 207
General Information
You must keep your old tax returns along with the appropriate
information to substantiate that you are entitled to the credits claimed on
References in these instructions are to the California Revenue and
this form. The FTB can request that information even on tax returns for
Taxation Code (R&TC).
years that are past the statute of limitations.
Business Tax Credit Limitation – For taxable years beginning on or after
Part I Carryover
January 1, 2008, and before January 1, 2010, business tax credits could
only offset 50% of the tax (corporations) or net tax (individuals), if a
A
Purpose
corporation’s taxable income was $500,000 or more, or if an individual’s
net business income was $500,000 or more. Business tax credits
Use form FTB 3540, Credit Carryover and Recapture Summary, Part I,
disallowed due to the 50% limitation may be carried over. The carryover
to figure a prior year credit carryover of one or more repealed credits
period for disallowed credits was extended by the number of taxable
that no longer have separate credit forms. Credit carryovers may not be
years the credits were not allowed.
carried back and applied against a prior year’s tax. The repeal dates have
passed for the credits listed on this form, however, these credits have
You do not need to complete this form if you file Schedule P (100,
carryover provisions. You may claim these credits only if carryovers are
100W, 540, 540NR, or 541), Alternative Minimum Tax and Credit
available from a prior year.
Limitations). However, complete this form if you are required to report a
credit recapture on Part II.
Note: Do not use form FTB 3540 to claim a Targeted Tax Area (TTA)
Sales or Use Tax Credit Carryover (Code 210); or Local Agency Military
B
Assignment of Credits
Base Recovery Area (LAMBRA) Sales or Use Tax Credit Carryover
(Code 198); or Enterprise Zone (EZ) Sales or Use Tax Credit Carryover
Assigned Credits to Affiliated Corporations – Credits earned by
(Code 176). Get FTB 3809, Targeted Tax Area Business Booklet,
members of a combined reporting group may be assigned to an affiliated
FTB 3807, Local Agency Military Base Recovery Area Business Booklet,
corporation that is a member of the same combined reporting group. A
and FTB 3805Z, Enterprise Zone Business Booklet to determine the
credit assigned may only be applied by the affiliated corporation against
amount of credit carryover you may claim.
their tax liability.
FTB 3540 2016 Side 1
7351163
For Privacy Notice, get FTB 1131 ENG/SP.
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