CA Form 100W (2022)

What is CA Form 100W

The California Form 100W is the California Corporation Franchise or Income Tax Return form that corporations electing to file under the water's-edge method must be filed.

The water's-edge election allows multinational corporations to only include the income and apportionment factors of a select group of controlled foreign corporations in their California tax return. This method aims to simplify filing for multinational corporations.

The CA Form 100W is used to report income, deductions, taxes, payments and other tax return data to the Franchise Tax Board.

Who needs to file CA Form 100W

Corporations that elect to file under the water's-edge method are required to file the CA Form 100W. This includes:

• Multinational corporations with operations in California and other countries;
• Corporations with affiliations in other countries;
• Foreign corporations with income derived from California sources.

Exceptions: Corporations not required to file the CA Form 100W are those that do not elect to file under the water's-edge method. These corporations would file the standard CA Form 100 instead.

How To Fill Out California Form 100W

The CA Form 100W contains various schedules to report income, deductions, taxes paid, tax credits, balance sheets, and other tax return data. Key sections include:

• Page 1 - Taxpayer information, income, deductions, tax calculation;
• Schedule A - Taxes deducted;
• Schedule F - Computation of net income;
• Schedule J - Add-on taxes and credit recaptures;
• Schedule L - Balance sheets;
• Schedule M - Reconciliation of income and analysis of retained earnings;
• Schedule R - Computation of apportionment percentage.

Detailed instructions are provided with the form to assist in filling it out accurately. All applicable schedules must be completed.

How to File CA Form 100W

Follow these steps to file the CA Form 100W:

1. Complete the CA Form 100W with all required information
2. Attach applicable schedules
3. Sign and date the return
4. Mail the completed return and any payment due to the Franchise Tax Board
5. E-file using FTB's online services

Resources:

• FTB Information for Corporations

The CA Form 100W must be filed by the 15th day of the 4th month after the close of the tax year. Follow all instructions closely to ensure proper filing. Seek assistance from a tax professional if needed.