100: California Corporation Franchise or Income Tax Return (2024)
California · FTB · Used for tax years 2024
Form 100 is the 2024 California Corporation Franchise or Income Tax Return. It reports a corporation’s income, California adjustments, deductions, credits, taxes, and payments to determine the refund or amount due.
What you'll need
Have the information requested on Form 100 ready:
- Corporation name, address, California corporation number, California Secretary of State file number, and FEIN.
- Business activity code, incorporation details, and the date business began in California or first earned income from California sources.
- Income, deduction, tax, and payment records, including 2024 estimated tax payments, withholding shown on Forms 592-B and/or 593, and payments made with an extension.
Depending on the entries that apply to the corporation, the form calls for supporting documents such as:
- Form FTB 3885 for California depreciation adjustments.
- Schedule H (100) for intercompany dividend elimination or the dividends received deduction.
- Schedule R when apportioning or allocating income.
- Schedule P (100) for alternative minimum tax.
- Schedules supporting other additions and deductions.
- Federal Form 8886 for each reportable or listed transaction when Schedule Q, question M, is answered “Yes.”
- An ownership statement when Schedule Q, question L1, L2, or L3, is answered “Yes.” Include the requested names, addresses, stock ownership percentages, and individual owners’ SSNs or ITINs.
Common mistakes
- Leaving the business activity code blank. Schedule Q, question F, specifically says not to leave it blank.
- Treating line 36 as a total. Line 36 is for use tax. The form explicitly says it is not a total line.
- Missing the BOE-100-B filing requirement. The form warns that a “Yes” answer to the Schedule Q, question C, ownership and real-property questions requires a BOE-100-B statement and that penalties may apply.
- Assuming Schedules L, M-1, and M-2 are always required. The form notes that the corporation may not need to complete them and directs filers to the Schedule M-1 instructions for reporting requirements.
Questions people ask
Can an overpayment be applied to next year’s estimated tax?
Yes. On the 2024 form, line 41 lets the corporation apply an amount from its line 40 overpayment to 2025 estimated tax.
Does the form provide a direct deposit option for refunds?
Yes. It includes fields for a routing number, checking or savings account type, and account number. It also directs filers to the instructions for direct deposit.
Who signs Form 100?
The signature area calls for an officer’s signature, title, and date. There is a separate area for a paid preparer’s signature and information.
What happens if capital losses exceed capital gains?
Schedule D on the 2024 form says to carry losses forward to 2025 if losses exceed gains.