California Form 3805Z PDF Details

The California Form 3805Z is a state income tax form that is used by taxpayers to claim the non-refundable renter's credit. This credit is available to taxpayers who meet certain criteria, including having rented property in California for at least six months during the taxable year. The amount of the credit varies depending on the taxpayer's income and filing status. This form must be filed with your California income tax return. For more information, see the instructions for Form 3805Z or consult your tax advisor.

QuestionAnswer
Form NameCalifornia Form 3805Z
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other names12_3805z 2012 ca form 3805z

Form Preview Example

TAXABLE YEAR

Enterprise Zone

 

 

CALIFORNIA FORM

 

 

 

2012

Deduction and Credit Summary

 

 

3805Z

 

 

Attach to your California tax return.

SSN or ITIN or California corporation number

Name(s) as shown on return

FEIN

California Secretary of State (SOS) file number

A.Check the appropriate box for your entity type:

Individual

Estate

Trust

C corporation

S corporation Partnership

Exempt organization

Limited liability company

Limited liability partnership

 

B.Enter the name of the Enterprise Zone (EZ) business: __________________________________________________________________________________

C.Enter the address (actual location) where the EZ business is conducted:

____________________________________________________________________________________________________________________________

D.Enter the name of the EZ in which the business and/or investment activity is located.

____________________________________________________________________________________________________________________________

E. Enter the six-digit Principal Business Activity Code of the EZ Business

______________________

 

Enter the six-digit Principal Business Activity Code from the chart. For the Long Beach

 

 

EZ, enter the four-digit Standard Industrial Classification (SIC) code number from the chart.

 

F.

Total number of employees in the EZ

______________________

G.

Number of employees included in the computation of the hiring credit, if claimed

______________________

H.

Number of new employees included in the computation of the hiring credit, if claimed

______________________

I.

Gross annual receipts of the business

______________________

J.

Total asset value of the business

______________________

Part I Credits and Recapture (Complete Schedule Z on Side 2 before you complete this part.)

1Hiring and sales or use tax credits claimed on the current year return:

a

Hiring credit from Schedule Z, line 8A, column (g) or line 10, column (f)

1a______________________

b

Hiring credit recapture from Worksheet IA, Section B, line 2, column (b)

. . 1b______________________

c

Sales or use tax credit from Schedule Z, line 9A, column (g) or line 11, column (f)

1c______________________

d

Add line 1a and line 1c

1d______________________

Part II Business Expense Deduction and Recapture

 

2 a

Enter the cost of qualified property purchased for the EZ that is being deducted as a current year

 

 

business expense from Worksheet II, Section A, line 5, column (b)

. 2a______________________

 

ELECTION: The act of deducting a portion of the cost of any property as a current year expense rather than adding it

 

 

to the capital account constitutes an election to treat that property in accordance with R&TC Sections 17267.2

 

 

or 24356.7. That election may not be revoked except with the written consent of the Franchise Tax Board (FTB).

 

b

Business expense deduction recapture from Worksheet II, Section B, line 2, column (b)

. 2b______________________

Part III Net Interest Deduction for Lenders

3Enter the amount of net interest received on loans to businesses located in the EZ from

Worksheet III, line 2, column (f)

3 ______________________

Part IV Portion of Business Attributable to the Enterprise Zone

4Enter the average apportionment percentage of your business that is in the EZ from Worksheet IV, Section A,

line 4. If your operation is wholly within the EZ, the average apportionment percentage is 100% (1.00)

4 ______________________

Part V Net Operating Loss (NOL) Carryover and Deduction

 

5 a Enter the EZ NOL carryover from prior years from Worksheet V, Section C, line 30, column (b)

. 5a ______________________

bEnter the total EZ NOL deduction used in the current year from Worksheet V, Section C, line 30, column (c). Enter this amount on Schedule CA (540 or 540NR), line 21e, column B; Form 100, line 21;

Form 100W, line 21; Form 100S, line 19; or Form 109, line 6

5b______________________

c Enter the EZ NOL carryover to future years from Worksheet V, Section C, line 30, column (e)

5c______________________

ELECTION: For those taxpayers eligible for an NOL carryover under R&TC Sections 17276.2, 17276.4, 17276.5, 17276.6, 24416.2, 24416.4, 24416.5, or 24416.6, the act of claiming an NOL carryover on this form constitutes the irrevocable election to apply the loss under R&TC Sections 17276.2 or 24416.2, for taxpayers operating a trade or business within the EZ. If you elect to carry over an NOL under the EZ provisions, you cannot carry over any other type and amount of NOL from this year.

For Privacy Notice, get form FTB 1131.

7541123

FTB 3805Z 2012 Side 1

Schedule Z Computation of Credit Limitations – Enterprise Zones

Part I Computation of Credit Limitations. See instructions.

1Trade or business income. Individuals: Enter the amount from the Worksheet IV, Section C, line 14, column (c) on this line and on line 3 (skip line 2). See instructions. Corporations filing a combined report, enter the

 

taxpayer’s business income apportioned to California. See instructions for Part IV

1

2

Corporations: Enter the average apportionment percentage from Worksheet IV, Section A, line 4. See instructions

.

2

3

Multiply line 1 by line 2

.

3

4

Enter the EZ NOL deduction from Worksheet V, Section C, line 30, column (c)

.

4

5

EZ taxable income. Subtract line 4 from line 3

5

6a Compute the amount of tax due using the amount on line 5.

See instructions

6a

b Enter the amount of tax from Form 540, line 35; Long Form 540NR, line 42;

 

Form 541, line 21; Form 100, line 24; Form 100W, line 24; Form 100S, line 22;

 

or Form 109, line10. Corporations and S corporations, see instructions

6b

7Enter the smaller of line 6a or line 6b. This is the limitation based on the EZ business income.

Go to Part II, Part III, or Part IV. See instructions

7

Part II Limitation of Credits for Corporations, Individuals, Estates, and Trusts. See instructions.

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

Credit

Credit

Total

Total credit

Total credit

Limitation

Credit used on

Total credit

name

amount

prior year

assigned from

sum of col. (b)

based on

Sch. P

carryover

 

 

carryover

form FTB 3544

plus col. (c),

EZ business

Can never be

col. (e) minus

 

 

 

col. (g)

minus col. (d)

income

greater than col. (e)

col. (f)

 

 

 

 

 

 

or col. (f)

 

8

Hiring credit

A

 

 

 

 

 

 

 

 

 

B

 

 

9

Sales or use

A

 

 

 

 

 

 

 

 

 

 

tax credit

B

 

 

Part III Limitation of Credits for S corporations Only. See instructions.

 

(a)

(b)

(c)

(d)

 

(e)

 

(f)

(g)

 

Credit

Credit

S corporation

Total

 

Total credit

 

Credit used

Carryover

 

name

amount

credit col. (b)

prior year

 

col. (c)

 

this year by

col. (e) minus

 

 

 

multiplied by 1/3

carryover

 

plus col. (d)

 

S corporation

col. (f)

 

 

 

 

 

 

 

 

 

 

10

Hiring

 

 

 

credit

 

 

11

Sales or use

 

 

 

tax credit

 

 

Part IV Limitation of Credits for Corporations and S Corporations Subject to Paying Only the Minimum Franchise Tax. See instructions.

(a)

(b)

(c)

(d)

(e)

Credit

Credit

Total prior

Total credit assigned

Total credit carryover

name

amount

year carryover

from form FTB 3544

sum of col. (b) plus

 

 

 

col. (g)

col. (c), minus col. (d)

 

 

 

 

 

12 Hiring credit

 

13Sales or use

tax credit

 

 

 

 

Refer to page 4 for information on how to claim deductions and credits.

Side 2 FTB 3805Z 2012

7542123

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It is straightforward to complete the document using this helpful guide! Here's what you want to do:

1. You'll want to fill out the California Form 3805Z accurately, hence pay close attention while filling out the segments comprising these blanks:

California Form 3805Z conclusion process shown (step 1)

2. Your next stage is to complete the following blank fields: Part I Credits and Recapture, a Hiring credit from Schedule Z, Part II Business Expense Deduction, business expense from Worksheet II, b Business expense deduction, Part III Net Interest Deduction, Worksheet III line column f , Part IV Portion of Business, line If your operation is wholly, Part V Net Operating Loss NOL, b Enter the total EZ NOL deduction, column c Enter this amount on, c Enter the EZ NOL carryover to, and ELECTION For those taxpayers.

business expense from Worksheet II, line  If your operation is wholly, and ELECTION For those taxpayers of California Form 3805Z

People who work with this document generally make errors while completing business expense from Worksheet II in this area. Be sure you re-examine what you enter right here.

3. The next part is going to be straightforward - fill in all of the fields in Schedule Z Computation of Credit, on this line and on line skip, See instructions , b Enter the amount of tax from, Form line Form line Form W, Enter the smaller of line a or, Go to Part II Part III or Part IV, Part II Limitation of Credits for, Credit name, Credit amount, c Total, prior year carryover, Total credit, assigned from form FTB , and col g to conclude this process.

Tips to fill out California Form 3805Z stage 3

4. This particular paragraph comes with these particular form blanks to type in your specifics in: S corporation credit col b, prior year carryover, plus col d, Credit used this year by S, col f, Hiring credit Sales or use, tax credit, Part IV Limitation of Credits for, Credit name, Credit amount, Total prior, year carryover, Total credit assigned from form, col g, and Total credit carryover sum of col.

Filling in section 4 of California Form 3805Z

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