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New Business Entities Calculator for Penalties & Interest

February 13, 2017

Purpose of Bulletin

To notify staff that the new Business Entities (BE) Calculator was made available on January 13, 2017, to calculate penalties and interest for business entities.

Background

FTB staff previously used the BE Minimum Tax Calculator on the ((*******))[1] to calculate penalties and interest for business entities. It only calculated the minimum tax, common penalties and interest due approximately 15 days in the future. It could not calculate or forecast the balance due for measured tax; staff used ADINT to manually calculate the total balance due.

[1] NOTE: ((***)) = Indicates confidential and/or proprietary information that has been deleted.

ADDITIONAL INFORMATION

The new BE Calculator will calculate minimum and measured tax, all penalties, and interest. Staff can also include any payments, payment transfer requests, and tax year transfers made by a BE, or from the Business Entities Tax System (BETS). The program calculates the total balance due, and allows staff to enter additional information such as:

  • Return in-dates
  • Tax year
  • Date of suspension
  • Business start date
  • Payments or transfers made
  • Number of shareholders/members

The program can calculate up to 20 tax years at once and allows staff to print out a Revivor/Compliance requirement document similar to the FTB 4005.

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