Instructions for Form FTB 1115
Request for Consent for a Water’s-Edge Re-Election
General Information
C Approval and Effective Date
E Request to Withdraw
In general, if a corporation terminates its
Do not change the method of filing until the
The corporation may withdraw its request at
water’s-edge election, with or without the
FTB has approved this request . The FTB’s
any time before the FTB takes action .
Franchise Tax Board’s (FTB’s) consent, it
approval of the request for consent to re-elect
The request must be in writing and mailed to
is required to file on a worldwide basis for
water’s-edge does not constitute making a
the address shown in General Information D,
at least 84-months before making another
water’s-edge election . After receiving the
Where to File .
election . The FTB may waive the application of
FTB’s consent to re-elect, the corporation
Specific Instructions
this rule for good cause . Good cause for this
must make its water’s-edge election by
purpose has the same meaning as described in
filing Form 100-WE, Water’s-Edge Election .
Private Mail Box (PMB)
Treas . Reg . Section 1 .1502-75(c) . To obtain the
The Form 100-WE must be attached to a
Include the PMB in the address field . Write
FTB’s consent to re-elect water’s-edge for good
timely filed original Form 100W, California
“PMB” first, then the box number . Example:
cause, the taxpayer must file form FTB 1115,
Corporation Franchise or Income Tax Return –
111 Main Street PMB 123 .
Request for Consent for a Water’s-Edge
Water’s-Edge Filers, or Form 100S, California
Re-Election .
S Corporation Franchise or Income Tax Return,
Part II – Basis to Request a
for the applicable taxable year .
The FTB’s consent is not required if the election
Water’s-Edge Re-Election
was terminated as a result of an affiliation
Approval for consent to re-elect water’s-edge
change as provided in California Revenue and
is effective for the taxable year in which good
Provide an explanation for the request to
Taxation Code (R&TC) Section 25113 .
cause occurred . Consent given by the FTB will
re-elect water’s-edge . The basis for the request
not be retroactive .
must clearly state the good cause supporting
A Purpose
The FTB will notify the corporation if its
the request .
Use form FTB 1115 to request the FTB’s
request is approved . The corporation should
In general, the request for consent to re-elect
consent to re-elect water’s-edge prior to the
generally receive a determination on its
water’s-edge will be granted only if the
expiration of the 84-month period following
re-election request within 60 days after it has
corporation demonstrates that it meets the
the last day of the terminated election . The
filed form FTB 1115 . If the FTB takes no action
good cause requirements as described in
FTB may approve the corporation request
or requests no additional information within
Treas . Reg . Section 1 .1502-75(c) .
for a good cause as provided in R&TC
60 days of the filing of the request to re-elect,
Section 25113(c)(11) and Cal . Code Regs .,
the request is deemed to be disallowed . See
tit . 18, section 25113 .
Cal . Code Regs ., tit . 18, section 25113(e) for
more information .
Do not use this form to renew a current
water’s-edge election . Per R&TC
D Where to File
Section 25113, a water’s edge election remains
in effect until terminated .
A corporation must file form FTB 1115
separately from any other form . A form
B Due Date
FTB 1115 filed with the tax return would not be
considered timely filed and would not be valid .
The taxpayer must file form FTB 1115 with the
FTB no later than the 90th day prior to the due
Mail form FTB 1115 to:
date, including extensions, of the tax return for
FRANCHISE TAX BOARD
which the re-election would be effective .
PO BOX 1779
Do not file form FTB 1115 with the tax return
RANCHO CORDOVA CA 95741-1779
because the request will not be timely filed and
will be considered invalid .
FTB 1115 2013 Page 1