California FTB Issues Income Tax Information on Payment Due Dates for Pass-Through Entity Elective Tax

The California Franchise Tax Board Feb. 16 issued information on payment due dates for the Pass-Through Entity Elective Tax Credit for the 2022-2025 taxable years, for individual income tax purposes. The information includes that: 1) a pass-through entity must make an annual election on a timely filed tax return when the return is filed and must make an initial payment by June 15 for taxable years beginning on or after Jan.1, 2022, and before Jan. 1, 2026; 2) the entity must pay $1,000 or 50 percent of the tax paid for the prior taxable year, whichever is greater, on or ...