California Form 5805f - Underpayment Of Estimated Tax By Farmers And Fishermen - 2011 Page 2
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2Instructions for Form 5805F
Underpayment of Estimated Tax by Farmers and Fishermen
General Information
D Exceptions to the Penalty
F Amended Tax Returns
You do not owe a penalty for 2011 if any of the
If you file an amended tax return by the
The instructions provided with California tax
following apply:
due date of your original tax return, use the
forms are a summary of California tax law
amounts shown on your amended tax return
and are only intended to aid taxpayers in
1 . You file your 2011 tax return and pay the full
to figure your underpayment . If you file an
preparing their state income tax returns . We
amount of tax due by March 1, 2012 .
amended tax return after the due date of your
include information that is most useful to the
2 . The tax for 2010, after credits, was less than
original tax return, use the amounts shown on
greatest number of taxpayers in the limited
$500 ($250 if married/registered domestic
the original tax return .
space available . It is not possible to include
partner (RDP) filling separately) calculated
all requirements of the California Revenue
as follows:
Exception: If you and your spouse/RDP file
and Taxation Code (R&TC) in the tax booklets .
a joint tax return after the due date to replace
• Form 540, add line 48, line 61, and line
Taxpayers should not consider the tax booklets
separate tax returns you originally filed by the
62 less the tax on lump-sum distributions
as authoritative law .
due date, use the amounts shown on the joint
included on line 34 and child and
tax return to figure your underpayment . This
The Mental Health Services Act, imposes an
dependent care expenses credit on line 78
rule applies only if both original separate tax
additional 1% tax on taxable income over
and less line 71, line 73, and line 74 .
returns were filed on time .
$1,000,000 .
• Long Form 540NR, add line 63, line 71,
and line 72 less the tax on lump-sum
Alternative Minimum Tax (AMT) is included in
Important: Even if you do not owe a
distributions included on line 41 and
the calculation of estimated tax .
penalty, do both of the following:
child and dependent care expenses credit
The underpayment of estimated tax penalty
on line 88 and less line 81, line 83, and
• Attach this form to the back of your
shall not apply to the extent the underpayment
line 84 .
Form 540, Long Form 540NR, or
of an installment was created or increased
• Form 541, line 28 less the tax on
Form 541 .
by any provision of law that is chaptered
lump-sum distributions included on
• Fill in the circle on Form 540, line 113;
during and operative for the taxable year of
line 21b and less line 29 and line 31 .
Long Form 540NR, line 123; or
the underpayment . To request a waiver of
Form 541, line 42 if you are a farmer or
3 . The tax for 2010 (from line 8) is less
underpayment of estimated penalty, follow the
a fisherman . This helps the Franchise
than $500 ($250 if married/RDP filing
directions under General Information E .
Tax Board identify you as a farmer or
separately) .
fisherman and correctly process your
A Purpose
4 . You had no tax liability for 2010 and your
tax return .
2010 tax return was for a full 12 months
Use Part I of form FTB 5805F, Underpayment
(or would have been if you were required to
of Estimated Tax by Farmers and Fishermen,
file) . You do not need to have had income in
to determine if you, as a farmer or fisherman,
each month .
paid the required amount of estimated tax . Use
Part II to compute your estimate penalty if you
E Waiver of the Penalty
did not pay enough estimated tax .
All or part of the penalty for underpayment may
B Qualifications
be waived if either of the following apply:
• You underpaid the estimated tax because
You are a farmer or fisherman and at least
of a casualty, disaster, or other unusual
two-thirds of your 2010 or 2011 gross
circumstance and it would be inequitable to
income is from farming or fishing . If you
impose the penalty .
need help determining your gross income, get
• In 2010 or 2011, you retired after age 62 or
federal Publication 505, Tax Withholding and
became disabled and your underpayment
Estimated Tax .
was due to reasonable cause .
If you determine that you are not a farmer or
To request a waiver you must do all of the
fisherman, do not use this form . Instead, use
following:
form FTB 5805, Underpayment of Estimated
Tax by Individuals and Fiduciaries, to determine
• Complete form FTB 5805F through line 15
if you owe an estimate penalty .
without regard to the waiver . Write the
amount you want waived in parentheses on
C Required Estimate Payment
the dotted line next to line 16 . Subtract this
amount from the total penalty you figured
If you are a farmer or fisherman, you are
without regard to the waiver, and enter the
required to make an estimated tax payment of
result on line 16 .
/
66
2
% ( .6667) of your 2011 tax or 100% of
3
• Check the box on line 16 .
your 2010 tax, whichever is less . If you are a
• Below line 16, explain why you are
calendar year taxpayer, your payment must be
requesting a waiver of the estimate penalty .
filed and paid by January 17, 2012 . If you are
If you need more space, attach a statement .
a fiscal year taxpayer, your payment must be
Be sure to include your name and tax ID no .
filed and paid by the 15th day of the 1st month
on each statement you attach .
after the close of your taxable year .
• Enter the amount, if any, from line 16 on
When the estimate due date falls on a weekend
Form 540, line 113; Long Form 540NR,
or holiday, the deadline to file and pay without
line 123; or Form 541, line 42 and fill in the
penalty is extended to the next business day .
circle on that line .
FTB 5805F Instructions 2011
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