Form 2424 - California Water'S-Edge Foreign Investment Interest Offset - 2014

Water’s-Edge Foreign Investment

CALIFORNIA FORM

TAXABLE YEAR

2424

2014

Interest Offset

Attach this form to the back of Form 100W or Form 100S.

Key corporation name

Key California corporation number

1 Dividend deduction (R&TC Section 24411) from Schedules H (100W or 100S), Part II, line 4, column (g) . . . . . . . . . . . . . .

1

00

If line 1 is zero, the interest offset is zero. Do not complete this form.

2 Total interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2

00

3 Interest expense specifically assignable to foreign investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3

00

4 Interest expense specifically assignable to domestic investment or other property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4

00

5 Unassigned interest expense, add line 3 and line 4, and subtract from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

5

00

6 Unassigned interest expense included in line 5, paid on debt incurred prior to January 1, 1988 . . . . . . . . . . . . . . . . . . . . . . .

6

00

7 Unassigned interest expense included in line 5, paid on debt incurred on or after January 1, 1988 . . . . . . . . . . . . . . . . . . . .

7

00

8 Interest expense included in line 7, paid with respect to debt proceeds deposited in restricted accounts . . . . . . . . . . . . . . . .

8

00

9 Subtract line 8 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9

00

10 Unassigned interest expense subject to allocation . Add line 6 and line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10

00

11 Unassigned foreign investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11

00

12 Unassigned total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12

00

___ ___ ___ . ___ ___ %

13 Percentage . Divide line 11 by line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

13

14 Unassigned interest expense allocated to foreign investment . Multiply line 10 by line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

00

15 Interest expense attributable to foreign investment . Add line 3 and line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15

00

16 Enter the smaller of line 1 or line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

00

17 Multiply line 16 by 75% ( .75) . Enter here and on Schedule R, Side 1, line 1b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

00

The remaining interest expense is subject to the provisions of R&TC Section 24344(b).

FTB 2424 2014

7211143