Form 3593 - California Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback Page 2
Download a blank fillable Form 3593 - California Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback 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 Form 3593 - California Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback 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.
ADVERTISEMENT
1
22015 Instructions for Form FTB 3593
Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback
References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2015, and to the California Revenue and Taxation Code (R&TC).
General Information
Combined Reporting – Corporations that file
If the amount of the NOL is reduced because of
a combined report can file form FTB 3593.
the new information, the corporation must pay the
The parent or key corporation should file form
tax to the extent that the amount of tax postponed
In general, for taxable years beginning on or after
January 1, 2015, California law conforms to the
FTB 3593 for the members in the combined
on the original filing exceeds the amount of tax
Internal Revenue Code (IRC) as of January 1,
reporting group.
postponed on the revised filing.
2015. However, there are continuing differences
Line 2 – The amount of the expected NOL must be
C
When to File
between California and federal law. When
based on all of the facts relating to the operation of
California conforms to federal tax law changes,
the corporation. Consider the following items when
File form FTB 3593 after the start of the taxable
we do not always adopt all of the changes made
estimating the amount of the expected NOL:
year of the expected NOL but before the tax of the
at the federal level. For more information, go to
preceding taxable year is required to be paid.
1. The number and dollar amounts of the
ftb.ca.gov and search for conformity. Additional
corporation's Government contracts that have
Period of extension – In general, the extension
information can be found in FTB Pub. 1001,
been canceled,
for paying the tax expires at the end of the month
Supplemental Guidelines to California Adjustments,
2. Profit and loss statements, and
in which the return for the taxable year of the
the instructions for California Schedule CA (540 or
3. Other factors peculiar to the corporation's
expected NOL is required to be filed (including
540NR), and the Business Entity tax booklets.
operations.
extensions).
The instructions provided with California tax forms
See R&TC Section 24416.20 and form FTB 3805Q,
Termination of extension – The Franchise
are a summary of California tax law and are only
Net Operating Loss (NOL) Computation and NOL
Tax Board (FTB) can terminate the extension
intended to aid taxpayers in preparing their state
and Disaster Loss Limitations - Corporations, to
if it believes that any part of the form contains
income tax returns. We include information that is
help determine the amount of the expected NOL.
erroneous or unreasonable information. The FTB
most useful to the greatest number of taxpayers
Limitations apply to (a) the amount of taxable
can also terminate the extension if it believes it
in the limited space available. It is not possible to
income of a new loss corporation for any taxable
may not be able to collect the tax.
include all requirements of the California Revenue
year ending after an ownership change that may be
and Taxation Code (R&TC) in the tax booklets.
Interest – Interest is charged on postponed
offset by any pre-change NOLs and (b) the use of
Taxpayers should not consider the tax booklets as
amounts from the dates that the payments
preacquisition losses of one corporation to offset
authoritative law.
would normally be due. The interest is figured
recognized built-in gains of another corporation.
at the underpayment rate specified in R&TC
A
Purpose
For more information, see IRC Sections 382 and
Section 19521.
384 and the related regulations.
A corporation or an exempt organization that
Line 3 – Enter the reduction of previously
D
Where to File
expects a net operating loss (NOL) in the 2016
determined tax attributable to the carryback, for
taxable year can file form FTB 3593, Extension
taxable years before the taxable year of the NOL.
File form FTB 3593 separately and mail to the
of Time for Payment of Taxes by a Corporation
Previously determined tax is generally:
following address:
Expecting a Net Operating Loss Carryback,
1. The amount shown on the return, plus any
FRANCHISE TAX BOARD
to extend the time for payment of tax for the
amounts assessed as deficiencies before
PO BOX 1570
immediately preceding 2015 taxable year. This
form FTB 3593 is filed, minus
RANDHO CORDOVA CA 95741-1570
includes extending the time for payment of
2. Any abatements, credits, or refunds allowed or
a tax deficiency. The payment of tax that can
made before form FTB 3593 is filed.
E
Period Covered
be postponed cannot exceed the expected
See IRC Section 1314(a).
overpayment from the carryback of the NOL.
Fill in the taxable year box at the top of the form to
Only payments of tax that are required to be paid
Attach a schedule showing how the reduction was
show the taxable year for which the extension of
figured. See the instructions for Form 100, Form
after the filing of form FTB 3593 are eligible for
time for payment of taxes is requested.
extension. Do not file this form if all the required
100S, Form 100W, and Form 109, for information
payments have been paid or were required to have
on figuring the NOL deduction and recomputing
Specific Line Instructions
the tax.
been paid.
Form FTB 3593 will reduce or eliminate the amount
Line 6a – For the taxable year shown on line 4,
Additional information – Use the additional
enter on line 6a the total of:
of tax to be deposited when form FTB 3539,
information field for “Owner/Representative/
Payment for Automatic Extension for Corporations
Attention” name, and other supplemental address
1. The total tax shown on the return, plus
and Exempt Organizations, or form FTB 3586,
information only.
2. Any amount assessed as a deficiency (or as
Payment Voucher for Corporations and Exempt
interest or a penalty) prior to the filing of this
Foreign address – If the corporation has a foreign
Organizations e-filed Returns, is filed.
form FTB 3593.
address, follow the country’s practice for entering
For more information, see R&TC Section 19131.5
the city, county, province, state, country, and postal
Line 6b – Enter the total of the following:
or get federal Form 1138, Extension of Time for
code, as applicable, in the appropriate boxes.
1. The amount of tax paid or required to be paid
Payment of Taxes by a Corporation Expecting a
Do not abbreviate the country name.
before the date this form is filed. This includes
Net Operating Loss Carryback.
any amount assessed as a deficiency or as
Item B – Check each box as appropriate to indicate
interest or a penalty if this form is filed more
whether this form is an initial form FTB 3593 or a
B
Who Can File
than 10 days after notice and demand for
revised form FTB 3593.
payment was made, plus
Revised form FTB 3593. If the corporation
Corporations filing Form 100, California
2. The amount of refunds, credits, and
previously filed form FTB 3593 and later finds
Corporation Franchise or Income Tax Return;
abatements made before the date this form is
information that will change the amount of the
100S, California S Corporation Franchise or
filed.
expected NOL, the corporation can file a revised
Income Tax Return; 100W, California Corporation
form FTB 3593. If the amount of the NOL is
Franchise or Income Tax Return - Water's-Edge
increased based on the new information, the
Filers; and exempt organizations filing Form 109,
Keep a copy of this form for the corporation's or
corporation can postpone the payment of a larger
California Exempt Organization Business Income
exempt organization's records.
amount of tax as long as the larger amount has
Tax Return; can file form FTB 3593 to extend the
not yet been paid or is not yet required to be paid.
time for payment of taxes.
FTB 3593 Instructions (NEW 2015) Page 1
ADVERTISEMENT
0 votes
Related Articles
Related forms
Form 1138 - Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback
Financial
Form 1138 - Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback
Financial
Form 1138 - Extension Of Time For Payment Of Taxes By A Corporation Expecting A Net Operating Loss Carryback - 2011
Financial
Form Nol-f85a - Application Of Net Operating Loss Carryback Or Carryforward - Fiduciary Return - 2007
Financial
Form Nol-f85a - Application Of Net Operating Loss Carryback Or Carryforward Fiduciary Return - 2009
Financial
Form Nol-f85a - Application Of Net Operating Loss Carryback Or Carryforward Fiduciary Return - 2008
Financial
Form Nol-f85a - Application Of Net Operating Loss Carryback Or Carryforward Fiduciary Return - 2016
Financial
Related Categories
Parent category: Financial