California Form 3544 - Election To Assign Credit Within Combined Reporting Group - 2011 Page 3
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3Another example is that the assignor has
Column (a) – Assignee name. Enter the
List the unused carryover credit amount
Manufacturers’ Investment Credits generated
corporation name that is receiving a credit
available for assignment separately for each
from assets placed in service prior to
assignment from the assignor.
taxable year a credit was generated. Also,
January 1, 2004. Those credits have not been
separately list the credit amount available for
Column (b) – Assignee California corporation
used and were carried forward and assigned in
assignment that is generated in the current
number or FEIN. Enter the California
the 2010 taxable year. Those credits will expire
taxable year. For example, if the assignor
corporation number or FEIN of the corporation
in the 2011 taxable year, based on the date that
(Corporation A) generated $3,000 of R&D
that is receiving the credit assignment. If
the assignor originally generated the credit.
credit in 2004, $6,000 of R&D credit in 2005,
the corporation has applied for but not yet
The credits will expire for the assignee in the
and $5,000 of R&D credit for the current
received the California corporation number or
2011 taxable year, unless the carryover period
taxable year, then each taxable year’s credit
FEIN, enter “Applied For” in column (b). If the
was extended by law.
amount would be separately listed in column (f)
corporation is a non-U.S. foreign corporation,
with the corresponding taxable year the credit
enter “Foreign” in column (b).
Specific Line Instructions
was generated in column (d). See the example
Column (c ) – Assignee principal business
below for how to report the credit assignment.
The assignor must complete the following
activity code. Enter the six digit PBA code of
Column (g) – Credit amount assigned. Enter
information on form FTB 3544:
the assignee in column (c). See the Principal
the credit amount that is being assigned
Business Activity Codes chart inside the
• Key corporation name, California key
to an assignee in the combined reporting
Form 100 Tax Booklet or Form 100W Tax
corporation number, and key corporation
group. Using the same example listed under
Booklet for more information.
principal business activity (PBA) code.
column (f) above, Corporation A has $3,000
• Assignor name, assignor California
Column (d) – Taxable year credit was
available for assignment. Corporation A
corporation number or federal employer
generated. Enter the taxable year that the
assigned $1,000 to Corporation B and $2,000
identification number (FEIN), and assignor
assignor generated the credit. For example, the
to Corporation C in the current taxable
PBA code.
assignor (Corporation A) generated an R&D
year. Corporation A would enter the credit
credit of $1,000 during the 2006 taxable year.
For a complete list of the Principal Business
amount available for assignment of $3,000 in
The credit was not claimed by Corporation A
Activity Codes, get Form 100 Corporation
column (f), $1,000 assigned to Corporation B
and carried forward. On July 1, 2008, the
Tax Booklet or Form 100W Corporation Tax
in column (g), and the remaining credit balance
$1,000 credit was still available for use.
Booklet, Water’s-Edge Filers.
of $2,000 in column (h). On the next line,
Corporation A assigned the available credit to
Corporation A should carryover the amount of
Credit Assigned Information
Corporation F (another unitary member of the
$2,000 from the previous line of column (h)
combined reporting group) in the 2011 taxable
Enter the applicable credit name and credit
onto column (f). Then, Corporation A would
year. Corporation A will enter “2006” as the
code in the space provided. For a complete
enter $2,000 assigned to Corporation C in
taxable year the R&D credit was generated.
list of eligible credits (active or repealed with
column (g), with the remaining credit balance
a carryover provision) to be assigned, see the
Column (e) – Limitations. Check column (e) if
of $0 in column (h). See the example below for
Credit Chart inside the Form 100 Tax Booklet or
the credit assigned is subject to any limitations
how to report the credit assignment.
Form 100W Tax Booklet. Note: The Prior Year
as discussed under General Information C,
Column (h) – Balance available for use by
Alternative Minimum Tax credit is excluded
Disclosure of Limitations and Restrictions. If
assignor. This is the amount available for
from the list of credits eligible to be assigned.
the assigned credit is subject to any limitation,
assignment [column (f)] less the amount
attach a statement to form FTB 3544 fully
For each type of eligible business credit,
of the current taxable year assigned credit
disclosing the specific limitation(s) imposed
the assignor should complete a separate
[column (g)]. The balance is the credit amount
upon each of the assigned credits listed on
form FTB 3544. For example, if the assignor
available that the assignor may use to assign
the form. Assignor shall separately list credits
is assigning R&D credit and EZ credit, two
to another assignee, to offset the California tax
which are subject to separate and distinct
separate forms FTB 3544 are required.
liability, or to carry forward to future taxable
limitations and disclose each of those separate
years.
When completing the form, the assignor must
and distinct limitations in a statement.
separately list credits generated in different
Total credit assigned. Add amounts in
Column (f) – Credit amount available for
taxable years. Assignor shall separately list
column (g) and enter the total on this line. This
assignment. The available credit amount
credits which are subject to separate and
is the total credit amounts being assigned to
may be assigned to more than one assignee.
distinct limitations and disclose each of those
affiliated corporations that are members of the
However, once a credit amount is assigned
separate and distinct limitations in a statement
same combined reporting group.
to an assignee, the assignment is irrevocable
to be attached to this form.
Also, enter the total credit assigned on the
and the assigned credit amount cannot be
applicable line of the related credit form.
reassigned to another assignee.
EXAMPLE – How to report the credit assignment. (This example does not reflect any credit used by the assignor).
*
(a)
(b)
(c)
(d)
(f)
(g)
(h)
(e)
Assignee name
Assignee
Assignee
Taxable
Credit amount
Credit amount
Balance
California
principal
year
available for
assigned
available for use
corporation
business
credit was
assignment
by assignor,
number or FEIN
activity code
generated
column (f) less
column (g)
**
Corp B
XXXXXXXXX
XXXXXX
2004
3,000
1,000
,000
**
Corp C
Applied For
XXXXXX
2004
2,000
0
,000
Corp B
XXXXXXXXX
XXXXXX
2005
6,000
1,500
4,500
Corp D
Foreign
XXXXXX
2005
4,500
2,500
2,000
Corp E
XXXXXXX
XXXXXX
2005
2,000
2,000
0
Corp E
XXXXXXX
XXXXXX
2011
5,000
5,000
0
Total credit assigned. Add amounts in column (g). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
14,000
*
Check column (e) if the credit assigned is subject to limitations. See instructions.
**
The assignor can assign this available balance to another assignee as shown on the next line (Corp. C).
Page FTB 3544 Instructions 2011
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