California follows IRS treatment for storm and flood victims that are eligible for disaster-area tax relief. This allows the FTB to conform to federal special tax relief provisions.
The FTB also follows IRS Notices including Notice 2005-68, Special Relief to Encourage Leave-Donation Programs for Victims of Hurricane Katrina. This notice states that employees can opt to donate vacation, sick, or personal leave in exchange for employer cash payments made to qualified tax-exempt organizations providing relief for Hurricane Katrina victims.
For the latest on tax issues related to Hurricane Katrina, watch the IRS Disaster Relief Web page at www.irs.gov.
California general information
- News Release: Franchise Tax Board Grants Hurricane Rita Victims State Tax Relief
- News Release: Controller Westly Announces State Tax Benefits for Businesses and Employees Donating to Hurricane Relief
- News Release: Hurricane Katrina Victims Granted State Tax Relief
- Disaster related tax information: FTB 1034, Disaster Loss Publication
California tax forms you may need for reporting disaster related losses
- FTB 540X Amended Individual Income Tax Return
- CA 100X Amended Corporation Franchise or Income Tax Return
- FTB 3805V Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitations -- Individuals Estates and Trusts
- FTB 3850Q Net Operating Loss (NOL) Computation and NOL and Disaster Loss Limitations - Corporations
- CA Schedule D-1 Sales of Business Property