California Form 3544 - Election To Assign Credit Within Combined Reporting Group - 2013 Page 3

Download a blank fillable California Form 3544 - Election To Assign Credit Within Combined Reporting Group - 2013 in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete California Form 3544 - Election To Assign Credit Within Combined Reporting Group - 2013 with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

Specific Instructions

Column (c ) – Assignee principal business

amount available for assignment after taking into

activity code. Enter the six digit PBA code of

account $1,000 of 2004 year credit used against

The assignor must complete the following

the assignee in column (c). See the Principal

its own tax liability. See the example below for

information on form FTB 3544:

Business Activity Codes chart inside the Form 100

how to report the credit assignment.

Tax Booklet or Form 100W Tax Booklet for more

• Key corporation name, California key

Column (g) – Credit amount assigned. Enter

information.

corporation number, and key corporation

the credit amount that is being assigned to an

principal business activity (PBA) code.

Column (d) – Taxable year credit was

assignee in the combined reporting group. Using

• Assignor name, assignor California

generated. Enter the taxable year that the

the same example listed under column (f) above

corporation number or federal employer

assignor generated the credit. For example, the

for the 2004 generated credit also assume 1) that

identification number (FEIN), and assignor

assignor (Corporation A) generated an R&D credit

in the current taxable year (2013) Corporation A

PBA code.

of $1,000 during the 2006 taxable year. The credit

assigns $1,000 to Corporation B, and 2) that in

was not claimed by Corporation A and was carried

the next taxable year (2014) Corporation A used

For a complete list of the Principal Business

forward to the succeeding years. Corporation A

$2,000 of the credit balance available for use by

Activity Codes, get Form 100 Corporation Tax

assigned the available credit to Corporation F

assignor against its own tax liability, and assigns

Booklet or Form 100W Corporation Tax Booklet,

(another unitary member of the combined

the remaining amount of credit to Corporation C.

Water’s-Edge Filers.

reporting group) in the 2013 taxable year.

On the current year’s form (2013), Corporation A

Credit Assigned Information

Corporation A will enter “2006” as the taxable

would enter $10,000 in column (f) as the credit

year the R&D credit was generated.

amount available for assignment, $1,000 in

Enter the applicable credit name and credit

column (g) as the credit amount assigned to

code in the space provided. For a complete

Column (e) – Limitations. Check column (e) if

Corporation B, and $9,000 in column (h) as

list of eligible credits (active or repealed with

the credit assigned is subject to any limitations

balance available for use by assignor.

a carryover provision) to be assigned, see the

as discussed under General Information C,

Credit Chart inside the Form 100 Tax Booklet or

Disclosure of Limitations and Restrictions. If the

Note: For the following year’s form (2014),

Form 100W Tax Booklet. Note: The Prior Year

assigned credit is subject to any limitation, attach

Corporation A would enter $7,000 as the

Alternative Minimum Tax credit is excluded from

a statement to form FTB 3544 fully disclosing

credit amount available for assignment in

the list of credits eligible to be assigned.

the specific limitation(s) imposed upon each of

column (f). This is the amount from column (h)

the assigned credits listed on the form. Assignor

of the previous year’s form less the amount

For each type of eligible business credit, the

shall separately list credits which are subject to

of credit used by the assignor against its own

assignor should complete a separate form

separate and distinct limitations and disclose

tax liability for the 2014 taxable year ($9,000 -

FTB 3544. For example, if the assignor is

each of those separate and distinct limitations in

$2,000 = $7,000). Corporation A would enter

assigning R&D credit and EZ credit, two separate

a statement.

$7,000 in column (g) as credit amount assigned

forms FTB 3544 are required.

to Corporation C, and $0 in column (h) as the

Column (f) – Credit amount available for

When completing the form, the assignor must

balance available for use by assignor. See the

assignment less amount used by assignor. The

separately list credits generated in different

example below for how to report the credit

available credit amount may be assigned to more

taxable years. Assignor shall separately list

assignment.

than one assignee. However, once a credit amount

credits which are subject to separate and distinct

is assigned to an assignee, the assignment is

Column (h) – Balance available for use by

limitations and disclose each of those separate

irrevocable and the assigned credit amount

assignor. This is the amount available for

and distinct limitations in a statement to be

cannot be reassigned to another assignee.

assignment less amount used by assignor

attached to this form.

[column (f)] less the amount of the current

List the unused carryover credit amount available

Column (a) – Assignee name. Enter the

taxable year assigned credit [column (g)]. The

for assignment separately for each taxable

corporation name that is receiving a credit

balance is the credit amount available that the

year a credit was generated. Also, separately

assignment from the assignor.

assignor may use to assign to another assignee,

list the credit amount available for assignment

Column (b) – Assignee California corporation

or to carry forward to future taxable years.

that is generated in the current taxable year.

number or FEIN. Enter the California corporation

For example, if the assignor (Corporation A)

Total credit assigned. Add amounts in

number or FEIN of the corporation that is

column (g) and enter the total on this line. This

generated $11,000 of R&D credit in 2004 (using

receiving the credit assignment. If the corporation

$1,000 against its own tax liability), $6,000 of

is the total credit amounts being assigned to

has applied for but not yet received the California

R&D credit in 2005, and $5,000 of R&D credit

affiliated corporations that are members of the

corporation number or FEIN, enter “Applied

for the current taxable year, then each taxable

same combined reporting group.

For” in column (b). If the corporation is a

year’s credit amount would be separately listed

Also, enter the total credit assigned on the

non-U.S. foreign corporation, enter “Foreign” in

in column (f) with the corresponding taxable

applicable line of the related credit form.

column (b).

year the credit was generated in column (d).

Note: Corporation A enters $10,000 as the

EXAMPLE – How to report the credit assignment.

2013

(e)

(a)

(b)

(c)

(d)

(f)

(g)

(h)

Assignee name

Assignee California

Assignee

Taxable

Credit amount

Balance available

corporation

principal

year

available for

assigned

for use by assignor,

number or FEIN

business

credit was

assignment less

column (f) less

activity code

generated

amount used by

column (g)

assignor

Corp B

XXXXXXXXX

XXXXXX

2004

10,000

1,000

9,000

Corp B

XXXXXXXXX

XXXXXX

2005

6,000

1,500

4,500



Corp D

Foreign

XXXXXX

2005

4,500



Corp E

XXXXXXX

XXXXXX

2013

5,000

Total credit assigned. Add amounts in column (g). See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12,000

* Check column (e) if the credit assigned is subject to limitations. See instructions.

2014

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

Corp C