Form 3541 - California Motion Picture And Television Production Credit

Specific Line Instructions

Line 13b – Total credit assigned

Corporations that assign credit to other corporations within combined

Owner of credit – Enter the name of the owner of the credit and

reporting group under R&TC Section 23663 must complete

the CA Corporation no. or FEIN or the CA Secretary of State (SOS) file

form FTB 3544. Enter the total amount of credit assigned from

number. If the name shown on the California return is the same as the

form FTB 3544, column (g) on this line.

owner of the credit, enter “Same”.

Part III – Assigned Credit from Affiliated

Part I – Available Credit

Corporations Pursuant to R&TC

Credit certificate numbers (Lines 1b, 2b, 3b, 7b, and 10b) – Provide

Section 23685.

the tax credit certificate number for the current year generated credit

allocated to you from the CFC, passed through to you from a pass-

Complete this table if you received credits assigned from an affiliated

through entity, purchased from a qualified taxpayer, assigned to you

corporation pursuant to R&TC Section 23685.

from an affiliated corporation, or applied against BOE sales and use

Column (a) – Assignor name. Enter the name of the corporation that

taxes. If you reported multiple credits, list all tax credit certificate

assigned the credit.

numbers on the respective lines or attach a schedule, if necessary.

Column (b) – Assignor corporation number, FEIN, or CA SOS number.

Failure to provide all tax credit certificate numbers may result in the

Enter the California corporation number, FEIN, or CA SOS number of the

disallowance of the credit.

corporation that assigned the credit.

Line 1a – Current year generated credit. If you received a tax credit

Column (c) – Credit certificate number. Enter the credit certificate

certificate from the CFC, enter the full amount of credit allocated to you

number from the qualified taxpayer’s (assignor’s) tax credit certificate

as shown on the CFC Tax Credit Certificate. If you received more than

issued by the CFC.

one tax credit certificate during the taxable year, add the credit amounts

from all credit certificates and enter the total on this line. If you received

Column (d) – Credit received. Enter the amount of the credit received

the credit from a pass–through entity, purchased the credit from a

from the assignor.

qualified taxpayer, or received the credit through an assignment from

Part IV – Credit Assigned to Affiliated

another corporation pursuant to R&TC Section 23685, do not enter the

amounts on this line. Instead, enter these amounts on line 2a, line 3a, or

Corporations Pursuant to R&TC

line 4, respectively.

Section 23685.

Line 2a – Credit received from pass–through entities. Add the

pass-through credit amounts received from S corporations, estates,

Line 18 – Tax. Enter on this line the amount from Form 100, California

trusts, partnerships, or LLCs taxed as a partnership, and enter the

Corporation Franchise or Income Tax Return, or Form 100W, California

total on this line. Attach a schedule showing the name, address, tax

Corporation Franchise or Income Tax Return — Water’s-Edge Filers,

identification number, and percentage of ownership for the flow-through

line 23.

entity from which you received the credit.

Line 19 – Excess credit available for assigning to affiliated

Line 3a – Credit purchased from other entities. Enter the amount

corporations. Subtract line 18 from line 17. If the result is:

of credit purchased from a qualified taxpayer. Do not enter the

• ‘0’ or less, enter ‘0’. Do not complete the Credit Assigned to Affiliated

consideration amount paid for the credit.

Corporations table. You do not have available credit to assign.

Line 4 – Credit received from affiliated corporations. If you received

• More than zero, this is the maximum amount of credit that may be

an assigned credit from an affiliated corporation pursuant to R&TC

assigned to affiliated corporations. Enter the amount of excess credit

Section 23685, complete Part III, Assigned Credit from Affiliated

on Line 20, column (e).

Corporations Pursuant to R&TC Section 23685. Enter the amount from

Complete the Credit Assigned to Affiliated Corporations table under

Part III, line 16 on this line.

Part IV if you have a balance on line 19 and will assign credits to

Line 7a – Credit sold to other entities. Enter the amount of credit sold

affiliated corporations pursuant to R&TC Section 23685.

to an unrelated party from form FTB 3551, box 7 (Total amount of credit

The following instructions are for completing line 21:

being sold).

Column (a) – Assignee name. Enter the name of the corporation that is

Line 8 – Credit assigned to affiliated corporations. If you assigned

receiving a credit assignment from the assignor.

a credit to an affiliated corporation pursuant to R&TC Section 23685,

Column (b) – Assignee California corporation number, FEIN, or CA

complete Part IV, Credit Assigned to Affiliated Corporations Pursuant to

SOS number. Enter the California corporation number, FEIN, or CA

R&TC Section 23685. Enter the amount from Part IV, line 22d, on this

SOS number of the corporation that is receiving the credit assignment.

line.

If the corporation has applied for but not yet received the California

Line 9 – Credit passed-through to members on Schedule K-1. Enter the

corporation number or FEIN, enter “Applied For” in column (b). If

amount of credit passed-through to partners, members, or shareholders

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

on Schedule K-1, on this line.

column (b).

Line 10a – Credit applied against sales and use taxes. If you applied

Column (c) – Credit certificate number. Enter the credit certificate

any portion of the credit against qualified sales and use taxes, enter the

number from the CFC Tax Credit Certificate.

amount on this line.

Column (d) – Amount of credit assigned. Enter the amount of credit

Part II – Carryover Computation

that is being assigned to an assignee.

Column (e) – Credit amount available for assignment. Subtract the

Line 13a – Credit claimed

amount in column (d) from the amount in previous line column (e).

Do not include assigned credits claimed on form FTB 3544A.

This amount may be less than the amount on line 12 if your credit

is limited by your tax liability. For more information, see General

Information D, Limitations and refer to the credit instructions in your tax

booklet. Use credit code 223 when you claim this credit.

FTB 3541 Instructions 2015 Page 3

Form 3541 - California Motion Picture And Television Production Credit - 2015 Page 5

Related Articles

Related forms

Related Categories