California FTB Issues Instructions for Amended Corporate Franchise, Income Tax Return Form

The California Franchise Tax Board (FTB) Feb. 1 issued instructions for amended corporate franchise or income tax return form for corporate income and individual income tax purposes. Net operating carrybacks aren’t allowed for taxable years beginning on or after Jan. 1, 2019. Small businesses can apply the small business accounting method changes to taxable years beginning on or after Jan. 1, 2018, and before Jan. 1, 2019. The FTB offers e-filing for the form, and provided: 1) the form’s purpose; 2) electronic payment methods; 3) relevant deadlines; 4) specific line instructions; and 5) sources for forms and publications. [Cal. Franchise ...