Form 3544 - California Election To Assign Credit Within Combined Reporting Group - 2014 Page 3
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3Specific Instructions
Column (c ) – Certificate Number. If the credit
Note: Corporation A enters $10,000 as the
assigned is the California Motion Picture and
amount available for assignment after taking into
The assignor must complete the following
Television Production credit, enter the California
account $1,000 of 2010 year credit used against
information on form FTB 3544:
Film Commission (CFC) certificate number used
its own tax liability. See the example below for
to claim the credit.
how to report the credit assignment.
• Key corporation name, California key
corporation number, and key corporation
Column (d) – Taxable year credit was
Column (g) – Credit amount assigned. Enter
principal business activity (PBA) code.
generated. Enter the taxable year that the
the credit amount that is being assigned to an
• Assignor name, assignor California
assignor generated the credit. For example, the
assignee in the combined reporting group. Using
corporation number or federal employer
assignor (Corporation A) generated an R&D credit
the same example listed under column (f) above
identification number (FEIN), and assignor
of $1,000 during the 2010 taxable year. The credit
for the 2010 generated credit also assume 1) that
PBA code.
was not claimed by Corporation A and was carried
in the current taxable year (2014) Corporation A
forward to the succeeding years. Corporation A
assigns $1,000 to Corporation B, and 2) that in
For a complete list of the Principal Business
assigned the available credit to Corporation F
the next taxable year (2015) Corporation A uses
Activity Codes, get Form 100 Corporation Tax
(another unitary member of the combined
$2,000 of the credit balance available for use by
Booklet or Form 100W Corporation Tax Booklet,
reporting group) in the 2014 taxable year.
assignor against its own tax liability, and assigns
Water’s-Edge Filers.
Corporation A will enter “2010” as the taxable
the remaining amount of credit to Corporation C.
Credit Assigned Information
year the R&D credit was generated.
On the current year’s form (2014), Corporation A
would enter $10,000 in column (f) as the credit
Enter the applicable credit name and credit code
Column (e) – Limitations. Check column (e) if
amount available for assignment, $1,000 in
in the space provided. For a complete list of
the credit assigned is subject to any limitations
column (g) as the credit amount assigned to
eligible credits (active or repealed with a carryover
as discussed under General Information C,
Corporation B, and $9,000 in column (h) as
provision) to be assigned, see the Credit Chart
Disclosure of Limitations and Restrictions. If the
balance available for use by assignor.
inside the Form 100 Tax Booklet or Form 100W
assigned credit is subject to any limitation, attach
Tax Booklet. Note: The Prior Year Alternative
a statement to form FTB 3544 fully disclosing
Note: For the following year’s form (2015),
Minimum Tax credit is excluded from the list of
the specific limitation(s) imposed upon each of
Corporation A would enter $7,000 as the
credits eligible to be assigned.
the assigned credits listed on the form. Assignor
credit amount available for assignment in
shall separately list credits which are subject to
column (f). This is the amount from column (h)
For each type of eligible business credit, the
of the previous year’s form less the amount
separate and distinct limitations and disclose
assignor should complete a separate form
each of those separate and distinct limitations in
of credit used by the assignor against its own
FTB 3544. For example, if the assignor is
a statement.
tax liability for the 2015 taxable year ($9,000 -
assigning R&D credit and EZ credit, two separate
$2,000 = $7,000). Corporation A would enter
forms FTB 3544 are required.
Column (f) – Credit amount available for
$7,000 in column (g) as credit amount assigned
assignment less amount used by assignor. The
When completing the form, the assignor must
to Corporation C, and $0 in column (h) as the
available credit amount may be assigned to more
separately list credits generated in different
balance available for use by assignor. See the
than one assignee. However, once a credit amount
taxable years. Assignor shall separately list
example below for how to report the credit
is assigned to an assignee, the assignment is
credits which are subject to separate and distinct
assignment.
irrevocable and the assigned credit amount
limitations and disclose each of those separate
cannot be reassigned to another assignee.
Column (h) – Balance available for use by
and distinct limitations in a statement to be
assignor. This is the amount available for
attached to this form.
List the unused carryover credit amount available
assignment less amount used by assignor
for assignment separately for each taxable
Column (a) – Assignee name. Enter the
[column (f)] less the amount of the current
year a credit was generated. Also, separately
corporation name that is receiving a credit
taxable year assigned credit [column (g)]. The
list the credit amount available for assignment
assignment from the assignor.
balance is the credit amount available that the
that is generated in the current taxable year.
Column (b) – Assignee California corporation
assignor may use to assign to another assignee,
For example, if the assignor (Corporation A)
number or FEIN. Enter the California corporation
or to carry forward to future taxable years.
generated $11,000 of R&D credit in 2010 (using
number or FEIN of the corporation that is
Total credit assigned. Add amounts in
$1,000 against its own tax liability), $6,000 of
receiving the credit assignment. If the corporation
R&D credit in 2011, and $5,000 of R&D credit
column (g) and enter the total on this line. This
has applied for but not yet received the California
for the current taxable year, then each taxable
is the total credit amounts being assigned to
corporation number or FEIN, enter “Applied For”
year’s credit amount would be separately listed
affiliated corporations that are members of the
in column (b). If the corporation is a non-U.S.
in column (f) with the corresponding taxable
same combined reporting group.
foreign corporation, enter “Foreign” in column (b).
year the credit was generated in column (d).
Also, enter the total credit assigned on the
applicable line of the related credit form.
EXAMPLE – How to report the credit assignment.
2014
*
(e)
(a)
(b)
(c)
(d)
(f)
(g)
(h)
Assignee name
Assignee California
Certificate Number
Taxable
Credit amount
Credit amount
Balance available
corporation
year
available for
assigned
for use by assignor,
number or FEIN
credit was
assignment less
column (f) less
generated
amount used by
column (g)
assignor
Corp B
XXXXXXXXX
XXXXXX
2010
10,000
1,000
9,000
Corp B
XXXXXXXXX
XXXXXX
2011
6,000
1,500
4,500
Corp D
Foreign
XXXXXX
2011
4,500
4,500
0
Corp E
XXXXXXX
XXXXXX
2014
5,000
5,000
0
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.
2015
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
Corp C
Applied for
XXXXXX
2010
7,000
7,000
0
Page 2 FTB 3544 Instructions 2014
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