3592: College Access Tax Credit (2025)
California · FTB · Used for tax years 2025
California Form 3592 reports the College Access Tax Credit earned and claimed for the current year and the amount carried over to future years. It also calculates credits passed through to shareholders, beneficiaries, partners, or members and is attached to your California tax re
Who files this form
Use Form FTB 3592 to report the College Access Tax Credit earned and claimed for 2025 and any credit carried over to future years. Also use it to claim credits passed through from an S corporation, estate, trust, partnership, or LLC classified as a partnership.
These pass-through entities should complete the form to figure the credit passed through to shareholders, beneficiaries, partners, or members.
To claim a credit for your own contribution, you must have contributed to the College Access Tax Credit Fund, received a certificate from the California Educational Facilities Authority (CEFA), and met the applicable terms of the credit agreement.
What you'll need
Have the following available, as applicable:
- CEFA credit certificate and credit agreement: These document your contribution, credit amount, certificate number, and conditions for claiming the credit.
- Schedule K-1 (100S, 541, 565, or 568): Use this for credits passed through to you. Attach a schedule listing the entity name, identification number, and credit amount for all credits passed through to you.
- Prior-year credit records: If you have a carryover, retain records documenting the credit and carryover used in prior years. The Franchise Tax Board may require access to them.
- Credit owner information: The form asks for the owner's name and applicable corporation number, FEIN, or California Secretary of State file number.
- Form FTB 3544: Required for corporations assigning credits within the same combined reporting group.
- Form FTB 3870: Required if you elect to make credits disallowed by the $5,000,000 business credit limitation refundable in future years.
How to file
Attach Form FTB 3592 to your California tax return. The supplied text does not give a mailing address or e-file instructions.
- Enter your current-year CEFA credit on line 1a and certificate number on line 1b. If you are claiming only a pass-through credit, skip both lines.
- Enter pass-through credits on line 2. Add multiple pass-through credits and attach the required entity schedule.
- Add current-year credits and prior-year carryovers as directed on lines 3 through 5.
- Report the credit claimed on line 6a. Use credit code 235 when claiming this credit.
- Complete lines 6b and 6c for assigned credits and credits elected as refundable in future years, if applicable. If you are not a corporation, enter 0 on line 6b.
- For line 7, subtract the total of lines 6a, 6b, and 6c from line 5.
Pass-through entities attach FTB 3592 to Form 100S, 541, 565, or 568, as applicable, and show each recipient's credit on Schedule K-1.
If making the refundable-credit election, attach completed Form FTB 3870 to your original, timely filed tax return.
Common mistakes
- Including assigned credits on line 6a: Do not include assigned credits claimed on Form FTB 3544, Part B.
- Completing lines 1a and 1b for a pass-through-only claim: Skip these lines if you are claiming only a credit allocated by a pass-through entity.
- Electing a tax-liability-limited credit as refundable: Credits limited by your tax liability are not eligible for this election. They may instead be carried over.
- Making only a partial refundable-credit election: You cannot elect only part of the disallowed credit. The election must also cover all other credits claimed that year that were disallowed by the $5,000,000 limitation. The election is irrevocable.
- Counting elected refundable credits as carryovers: Do not include amounts elected as refundable on Form FTB 3870 in line 7.
- Carrying credit back: The credit cannot be applied against a prior year's tax.
Questions people ask
How much is the credit?
The credit is 50% of the amount contributed to the College Access Tax Credit Fund for the taxable year. CEFA allocates and certifies the credit amount.
Can any business apply?
Yes. The text says any business can apply, and the application is available statewide to all industries. For more information, visit treasurer.ca.gov and search for “catc.”
What happens if I cannot use all my credit?
Unused credit may generally be carried over for up to six years or until exhausted, whichever occurs first. For credits disallowed by the business credit limitation and not elected as refundable, the carryover period is extended by the number of taxable years the credit was not allowed.
Is the credit refundable?
The credit is generally not refundable. However, credits disallowed by the $5,000,000 business credit limitation may be elected as refundable in future years using Form FTB 3870. You may claim 20% annually over five years, beginning in the third taxable year after the election year. S corporations cannot make this election for credits taken at the entity level.