Filing Requirements - Form 100, Corporation Franchise or Income Tax Return

Political organizations exempt under R&TC Section 23701r, or homeowners’ associations exempt under R&TC Section 23701t that have taxable income in excess of $100 must file Form 100.


Due date

File Form 100 on or before the 15th day of the 3rd month after the close of your organization’s taxable year. If its taxable year ends on December 31, the due date is March 15. If the due date falls on a Saturday, Sunday, or legal holiday, file by the next regular workday.

Tax rate

Use the general corporate tax rate to compute the tax. Exempt organizations are not subject to the minimum tax.

Types of penalties

Go to Penalties for a list of the different types of penalties.

Political organizations

Taxable income includes all amounts received during the taxable year other than:

  • Contributions of money or other property.
  • Membership fees, dues, or assessments.
  • Proceeds from political fundraising or entertainment events.
  • Proceeds from the sale of certain political campaign materials.

Political organizations are not required to make estimated tax payments. Therefore, they are not subject to the penalty for underpayment of estimated tax. They are subject to all other penalties.

For more information about political organizations, see FTB Pub.1075, Exempt Organizations – Guide for Political Organizations.

Homeowners’ associations

Taxable income:

  • Does not include membership fees, dues, or assessments.
  • Does include (but is not limited to) all income received during the taxable year from:
    • Interest
    • Rents
    • Sale of assets
    • Dividends
    • Royalties
    • Nonmembers

For more information about homeowners’ associations, see FTB Pub.1028, Guidelines For Homeowners’ Associations.

Penalties

  • Post-Amnesty Penalty: We impose a penalty when your organization owes new or additional tax on a tax year that qualified for tax amnesty. The penalty is equal to 50 percent of the interest that accrued on the tax assessment from the original due date of tax to March 31, 2005. You cannot protest this penalty. You can file a claim for refund of this penalty only on the grounds that Franchise Tax Board did not properly compute the amount of the penalty. (R&TC Section (19777.5(a)(2))
  • Delinquent Penalty: If you do not file your organization’s tax return by the extended due date, we impose a penalty of 5 percent of the tax due, after applying any payments and credits made on or before the original return due date, for each month or part of a month the return is late. The maximum penalty is 25 percent. We impose the penalty from the original due date of the return. (R&TC Section 19131)
  • Demand to File Penalty: If we send you a demand to file your organization’s tax return and you do not file it, we impose a penalty of 25 percent of the tax liability before applying any payments or credits. Therefore, your organization may owe penalties and interest even if its tax return shows that a refund is due. This penalty is in addition to the 25 percent delinquent penalty. (R&TC Section 19133)
  • Underpayment and Monthly Penalty: We impose a penalty if you do not pay the total amount due shown on your organization’s return by the original due date. The penalty is 5 percent on the unpaid tax, plus 0.5 percent on the unpaid tax for each month or part of a month it remains unpaid. The maximum penalty is 25 percent of the unpaid tax. (R&TC Section 19132)
  • Underpayment of Estimated Tax Penalty: We impose a penalty if your organization does not pay, pays late, or underpays an estimated tax installment. We calculate the penalty on the unpaid amount from the due date of the estimated tax installment to the date we receive your payment, or to the due date of the return, whichever is earlier. (R&TC Section 19142-19161)

Extension of time to file

The extension allows you more time to file the return, not an extension of time to pay any taxes that may be due.

We will grant an automatic 7-month extension to file a return if both of the following conditions exist:

  • Your organization is not suspended on the original due date.
  • You file your organization’s return on or before the extended due date.

Back to Charities and Nonprofits (Exempt Organizations)