California FTB Issues 2023 Instructions for Form 593, Real Estate Withholding Statement

The California Franchise Tax Board (FTB) March 1 issued the 2023 instructions for Form 593, Real Estate Withholding Statement, for individual income, corporate income, and trust income tax purposes. Effective Jan. 1, 2020, the real estate withholding instructions and forms 593, 593-C, 593-E, and 593-I were consolidated into new Form 593. The instructions include information on: 1) real estate withholding requirements; 2) options for subsequent installment payment withholding and alternative withholding calculations; 3) eligibility criteria, obligations, and certifications for withholding exemptions; 4) interest and penalties on late withholding payments; and 5) tax rates for individuals, partnerships, corporations, financial corporations, S ...