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State of California Franchise Tax Board

Changes to 2005 Forms

2005 Updates to Form 540 ES

Revision Date: 05/11/2005

Revision Details: Form 540-ES Instructions on page 1 and 2, page 55 and 56 of the Resident Booklet, and pages 263 and 264 of the Package X.

  • Form 540-ES Worksheet , line 19b

It should read:

Enter the sum of line 34 and line 35 from your 2004 Form 540; line 23 from Form 540A; or the sum of line 43 and 44 from your Long Form 540NR.

  • Form 540-ES Worksheet, line 19e

It should read:

Multiply 110% (1.10) by the sum of line 34 and line 35 from your 2004 Form 540; line 23 from Form 540A; or the sum of line 43 and 44 from your Long Form 540NR.

  • Form 540-ES Instructions, Column 1, What's New

It should read:

Effective for 2005 Alternative Minimum Tax (AMT) is now included in the calculation of estimated tax.

  • Form 540-ES Instructions, Column 1, Purpose

It should read:

Generally, the required estimated tax amount is based on the lesser of 90% of the current year's tax or 100% of the prior year's tax including AMT.

  • Form 540-ES Instructions, Column 1, Who Must Make Estimated Tax Payments

It should read:

2. The tax shown on your 2004 tax return including AMT.

  • Form 540-ES Instructions, Column 1, Limit on the Use of Prior Year's Tax

It should read:

Individuals who are required to make estimated payments, and whose 2004 adjusted gross income is more than $150,000 (or $75,000 if married filing separately), must figure estimated tax based on the lesser of 90% of their tax for 2005 or 110% of their tax for 2004 including AMT. This rule does not apply to farmers or fishermen.

The revised internet version is available for download.


2005 Updates to Form 540 ES

Revision Date: 04/28/2005

Revision Details: Form 540-ES Instructions, page 1, page 55 of the Resident Booklet, and page 263 of the Package X.

  • 2005 Instructions for Form 540-ES, column 1

It should read:

What's New

Effective for 2005, Alternative Minimum Tax (AMT) is now included in the calculation of estimated tax.

The revised internet version is available for download.

Back to Tax Form Changes for 2005

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