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Screen CAPmt - California Payments and Extension (1120)

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Payments

Prior year overpayment
Enter the prior-year overpayment in this field. The amount transfers to Side 2 of Form 100, 100S, or 100W, or to Side 1 of Form 541. Do not include this amount again in the
1st payment
 field.
Total, or / Specific payments if unequal or not timely: 1st-5th payment
Enter the total of all estimates made for the tax year in the respective
Total, or
 fields. The amount transfers to Side 2 of Form 100, 100S, or 100W, or Side 1 of Form 541, and applies it equally to all quarters when calculating interest and penalties. To override the way the application applies the total to all quarters, enter the actual amount of estimated tax for the
1st payment
 through
5th payment
. Once amounts are entered in any of the individual payment fields, the application ignores the value in the
Total, or
 field for purposes of calculating interest and penalties.
Treat calculated amounts as paid
The estimated payments calculated in the prior year application proforma to the
Calculated Amount
 fields. Enter
X
 to transfer amounts from the
Calculated Amount
 fields to the
Amount Paid
 fields.
note
Amounts entered in the
Amount Paid
 fields won't be overwritten when the
Treat calculated amounts as paid
 field is marked.
1st payment / … / 5th payment
To override the way the application applies the total to all quarters, enter actual amounts of estimated tax in the
1st payment
 through
5th payment
 fields. Once you enter amounts in any of the individual payment fields, the application ignores the values in the
Total
 fields when calculating Side 2 of Form 100, 100S, or 100W, or Side 1 of Form 541, and Form 5806.
The first four fields in the Date Paid column default to the respective quarters’ due dates, and the 5th payment date defaults to the 4th-quarter date. If the payments weren't made on the estimate due dates, enter the actual dates of payment in the fields provided.
note
Don't include QSub tax payments. Report them in the field below.
Withholding tax payments (from Form 592-B and/or Form 593)
Enter the total of all nonresident withholding made for the tax year. The application transfers this amount to Side 2 of Form 100, 100S, or 100W, and applies it equally to all quarters when calculating Form 5806.
note
In an S Corporation, withholding from Forms 592-B or 593 may be allocated to the corporate entity-level tax or allocated to the shareholders; however, the amount of withholding claimed at the entity level may not exceed the corporate tax liability. Any excess must be allocated to the shareholders. Use the
Withholding tax for all shareholders
 field in the CAK screen to enter an amount allocated to all shareholders.
QSub tax payments (S Corp)
Use the statement to enter detail of the QSub payments which the application uses to complete Schedule QS. The QSub annual tax is included on the Tax line of Form 100S, Side 2, and is calculated by multiplying the number of QSubs entered in the statement by $800. This amount may be suppressed for a member by marking the box NOT Subject to $800 QSub tax.
The payment amount is included on the Estimated tax/QSub payments line of Form 100S, Side 2. To change the payment amount for a member, enter an amount in the QSub Payment Amount field, including 0.
Enter the data in either the parent or the subsidiary return; data is combined from all members in the QSub return.
note
When electronic filing a return with a foreign QSub corporation, enter its EIN as 99-999999.
Paid with extension … / Paid with extension … (C Corp)
Each time you print the extension (via
File
,
Print Extensions
), the application:
  • Calculates the extension payment amount and enters it in this field, and
  • Prints this amount on Form 100, 100S, 100W, 199, or 541, not on Form 3539 or Form 3563.
Alternatively, you can overrule the calculated amount by entering the amount actually paid with the current-year extension in this field. The application then displays the new amount in black.
note
  • To delete the overruled amount and restore the original calculated amount, right-click the field and select
    Delete overrule
    .
  • To confirm the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • If desired, you can set a user preference to mark fields for which you overruled the calculated amounts and to list all overruled amounts in the Diagnostics window.

Extension

Use this section to complete Form 3539 or Form 3563, and to extend the due date of the return.
To print Form 3539 or Form 3563, select
File
, then
Print Extensions
.
If a blank extension form is desired, select
Help
,
Tax Subject Index
, then
Web Form Instructions
 to link to Form 3539 or Form 3563 from the California website. The extension form produced by the application isn't approved for handwritten use.
note
The California Franchise Tax Board doesn't want extension forms filed with no amounts due. If a payment isn't required with the extension, then don't file Form 3539 or Form 3563.
Calculate extension payment
Enter
1
 or leave this field blank to have the application calculate the extension at 100 percent of the current year liability. Enter
2
 to have the application calculate the extension at 90 percent of the current year liability. When this option is selected, interest is assessed on the remaining 10 percent of the balance due.
Extended due date
If you have printed an extension by selecting
File
, then
Print Extensions
, or have entered an amount in the
Balance due on extension (Force)
 field, the extended due date displays in this field. Otherwise, enter the date to be used as the extended due date in the calculation of late filing penalties and in the filing instructions. If this field is blank, it's assumed that the return wasn't put on extension.
Balance due on extension (Force)
If an amount is entered in this field, the application calculates the amount of total tax using the estimated payments and withholding entered, completes the
Extended due date
 field, and enters the amount in the Payments section.

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