100 Schedule P: Alternative Minimum Tax and Credit Limitations - Corporations (2025)
California · FTB · Used for tax years 2025
California Schedule P (100) calculates a corporation’s tentative minimum tax, alternative minimum tax (AMT), and limits on tax credits. It also reports credits used, credit carryovers, and the available credit for prior-year AMT, and is attached to Form 100 or Form 109.
What you'll need
Have the applicable forms and records available:
- Form 100, Form 109, or Schedule R: Schedule P uses income and tax amounts from these forms.
- Schedule K-1 (541), if applicable: Part I, line 2j uses the amount from line 12a for beneficiaries of estates and trusts.
- Adjustment records: Amounts for the applicable adjustments listed in Part I, along with depletion, adjusted current earnings (ACE), and prior-year ACE adjustments.
- Deduction and credit records: Applicable disaster loss deductions, AMT net operating loss deductions, credit amounts, and credit carryovers.
- 2024 Schedule P (100), if completing Part III: Part III asks for AMT from that schedule and any unused prior-year AMT credit carryover.
How to file
Attach the 2025 Schedule P (100) to Form 100 or Form 109.
Enter the corporation's name and California corporation number. Transfer the adjusted AMT from Part II, line 18 to Form 100, line 29 or Form 109, Side 1, line 13.
The supplied form does not give a mailing address or e-file directions.
Common mistakes
- Skipping Part I, line 5e because line 5c is positive: The form says to enter an amount on line 5e even when line 5c is positive.
- Using the wrong sign for the ACE adjustment: Enter line 5d as a positive number. If line 5c is negative, enter the smaller of line 5d or line 5e on line 5f as a negative number.
- Overlooking the minimum franchise tax: Part II, line 2 cannot be less than the minimum franchise tax, if applicable.
- Overlooking the credit limitation: If the corporation is subject to the limitation, total credits used in Part II, Sections A and B, column (b) cannot exceed $5,000,000. For taxpayers included in a combined report, the limitation applies at the group level.
Questions people ask
What does Schedule P (100) calculate?
Part I calculates tentative minimum tax (TMT) and alternative minimum tax (AMT). Part II covers credits that reduce tax. Part III calculates the available credit for prior-year AMT.
How is AMT calculated in Part I?
Line 19 subtracts regular tax before credits on line 18 from TMT on line 17. If the result is zero or less, enter 0.
Where do I report adjusted AMT?
Enter the amount from Part II, line 18 on Form 100, line 29 or Form 109, Side 1, line 13.
How does the form calculate the available prior-year AMT credit?
Part III adds the AMT from the 2024 Schedule P (100) to the carryover of unused credit for prior-year AMT. Enter the total on Part III, line 3 and Part II, line 9, column (a). The form refers to instructions for the amounts entered on Part III, lines 1 and 2.