Form 3541 - California Motion Picture And Television Production Credit

Part IV – Credit Assigned to Affiliated

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

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

Corporations Pursuant to R&TC

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

Section 23685.

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

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

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

entity from which you received the credit.

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

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

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

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

line 23.

consideration amount paid for the credit.

Line 19 – Excess credit available for assigning to affiliated

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

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

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

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

Section 23685, complete Part III, Assigned Credit from Affiliated

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

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

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

Part III, line 16 on this line.

assigned to affiliated corporations. Enter the amount of excess credit

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

on Line 20, column (e).

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

Complete the Credit Assigned to Affiliated Corporations table under

being sold).

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

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

affiliated corporations pursuant to R&TC Section 23685.

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

The following instructions are for completing line 21:

complete Part IV, Credit Assigned to Affiliated Corporations Pursuant to

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

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

receiving a credit assignment from the assignor.

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

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

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

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

on Schedule K-1, on this line.

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

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

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

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

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

amount on this line.

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

Part II – Carryover Computation

column (b).

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

Line 13a – Credit amount claimed on the current year tax return. The

number from the CFC Tax Credit Certificate.

credit amount you can claim on your tax return may be limited. See

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

General Information D, Limitations. Also, refer to the credit instructions

that is being assigned to an assignee.

in your tax booklet for more information. Use credit code 223 when you

claim this credit.

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

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

Line 13b – Credit assigned to other corporations within combined

reporting group. If you assigned a credit to an affiliated corporation

pursuant to R&TC Section 23663, enter the total credit assigned from

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

Part III – Assigned Credit from Affiliated

Corporations Pursuant to R&TC

Section 23685.

Complete this table if you received credits assigned from an affiliated

corporation pursuant to R&TC Section 23685.

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

assigned the credit.

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

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

corporation that assigned the credit.

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

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

issued by the CFC.

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

from the assignor.

FTB 3541 Instructions 2014 Page 3

Form 3541 - California Motion Picture And Television Production Credit - 2014 Page 5

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