California Form 3544a - List Of Assigned Credit Received And/or Claimed By Assignee - 2012 Page 2
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3Instructions for Form FTB 3544A
List of Assigned Credit Received and/or Claimed by Assignee
References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2009, and to the California Revenue and Taxation Code (R&TC).
Important Information
General Information
• Limitations imposed on the credit to certain
types of income, such as income from one
For taxable years beginning on or after
In general, for taxable years beginning on or
of the California Enterprise Zones (EZ).
July 1, 2008, California Revenue and Taxation
after January 1, 2010, California law conforms
• Limitations imposed by California’s
Code (R&TC) Section 23663 allows the
to the Internal Revenue Code (IRC) as of
incorporation of IRC Section 383.
assignor to assign an eligible credit to the
January 1, 2009. However, there are continuing
• Limitations on the number of years the
eligible assignee. For taxable years beginning
differences between California and federal law.
assigned credits may be carried forward.
on or after January 1, 2010, the eligible
When California conforms to federal tax law
For example, the amount of EZ credit allowable
assignee may claim all or a portion of the
changes, we do not always adopt all of the
for use is limited to the tax on income
assigned credits against tax for the taxable
changes made at the federal level. For more
attributable to that enterprise zone. For zone
year in which the assignment occurs, or
information, go to ftb.ca.gov and search for
credits assigned, the assignee must have a tax
any subsequent taxable year, subject to
conformity. Additional information can be found
liability on the income attributable to the same
limitations. For more information, see R&TC
in FTB Pub. 1001, Supplemental Guidelines
zone that the original credit was generated. If
Section 23663 or go to ftb.ca.gov and search
to California Adjustments, the instructions for
the original credit was generated in the Fresno
for credit assignment.
California Schedule CA (540 or 540NR), and the
enterprise zone of the assignor, the assignee
Business Entity tax booklets.
After assignment of an eligible credit, the
must have a tax liability on the income
assignee is treated as if it originally generated
The instructions provided with California tax
attributable to the Fresno enterprise zone.
the assigned credit. All restrictions and
forms are a summary of California tax law
Also, when a corporation has an “ownership
limitations, including any carryover limitations
and are only intended to aid taxpayers in
change” as defined in IRC Section 382, tax
that applied to the assignor (entity that
preparing their state income tax returns. We
credits may be subject to limitations imposed
originally generated the credit) will also apply
include information that is most useful to the
under IRC Section 383. In such situations, the
to the assignee. See General Information B,
greatest number of taxpayers in the limited
annual use of credits is limited to an amount
Disclosure of Limitations and Restrictions, for
space available. It is not possible to include all
determined under IRC Section 383.
more information.
requirements of the California R&TC in the tax
Another example is that the assignor has an
booklets. Taxpayers should not consider the
Once a credit amount is assigned to an
Environmental Tax Credit generated during
tax booklets as authoritative law.
assignee, the assigned credit amount cannot
the 2006 taxable year. The credit has not been
be reassigned to another assignee.
A Purpose
used and was carried forward and assigned in
There is no requirement of payment for
the 2012 taxable year. The credit will expire in
Use form FTB 3544A, List of Assigned Credit
assignment of credit by an eligible assignee
the 2017 taxable year, based on the date that
Received and /or Claimed by Assignee, to
to an assignor. If the eligible assignee makes
the assignor originally generated the credit.
report the following:
a payment for the assignment of credit, the
The credit will expire for the assignee in the
payment is not a deductible expense for the
• Assigned credit amount received this
2017 taxable year, unless the carryover period
assignee nor income to the assignor.
taxable year and/or carryover from prior
is extended by law.
taxable years.
The assignor and the eligible assignee shall
Specific Line Instructions
• Assigned credit amount claimed in the
each be liable for the full amount of any
current taxable year.
tax, addition to tax, or penalty that results
The assignee shall complete all of the
• Assigned credit amount carryover to future
from any disallowance of any eligible credit
information requested on form FTB 3544A.
taxable years.
assigned under R&TC Section 23663. The
Attach additional form(s) FTB 3544A, if
Franchise Tax Board (FTB) may collect such
When more than one type of assigned credit
necessary. Schedules or substitute forms,
amount in full from either the assignor or the
is being received and/or claimed, complete
other than FTB-approved computer-generated
eligible assignee.
a separate form FTB 3544A for each type
substitute versions of form FTB 3544A, will not
of assigned credit and attach it to Form 100,
If a C corporation received an assigned credit
be accepted.
California Corporation Franchise or Income Tax
from an assignor, and then converted to an
In addition, the assignee should maintain the
Return; Form 100S, California S Corporation
S corporation, the S corporation is entitled to
information necessary to substantiate any
Franchise or Income Tax Return; or
claim 1/3 of the assigned credit as follows:
assigned credit amount claimed.
Form 100W, California Corporation Franchise or
• The C corporation assigned credit
Assigned Credit Information
Income Tax Return – Water’s-Edge Filers.
carryovers are reduced to 1/3 when
Enter the assigned credit name and credit
When attaching form FTB 3544A to the tax
transferred to the S corporation. The
code in the space provided. For each type of
return, make sure to check the “Yes” box on
remaining 2/3 are disregarded. The
assigned credit received and/or claimed, the
Form 100 or Form 100W, Side 1, Schedule Q,
allowable assigned credit carryovers may
assignee should complete a separate form
Question B5; or Form 100S, Side 2,
be used to offset the 1.5% tax on net
FTB 3544A. When completing the form, list
Schedule Q, Question S.
income in accordance with the respective
each assigned credit transaction received
carryover rules.
separately. See example on the next page for
B Disclosure of Limitations
• These C corporation assigned credit
how to report the assigned credit received
and Restrictions
carryovers may not be passed through to
and/or claimed.
the shareholders.
The eligible assignee is treated as if it originally
Column (a) – Assignor name. Enter the name
For general information regarding the
generated the assigned credit. Any credit
of the corporation that assigned the credit.
treatment of S corporations tax credits, get
limitations or restrictions that applied to the
Column (b) – Assignor California corporation
Form 100S Corporation Tax Booklet for more
assignor will also apply to the eligible assignee.
number or FEIN. Enter the California
information.
The assignor shall disclose the existence and
corporation number or FEIN of the corporation
nature of any assigned credit limitations to
that assigned the credit.
the eligible assignee and to the FTB. Such
limitations may include, but are not limited to:
FTB 3544A Instructions 2012 Page
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