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State of California Franchise Tax Board

Changes to 2007 Form

FTB 3807 – Local Agency Military Base Recovery Area Business Booklet

The revised Internet version is available for download as of 03/26/2008

Revision Details: 1) The current instructions directs the taxpayer to report the business expense deduction on the "Line 23" instead of "Line 24 Other deductions" of the Form 109. Form 109, Line 23a is for Contributions to deferred compensation plan and Line 23b is for Employee benefit program.
The current instructions directs the taxpayer to report the business expense deduction recapture on "Line 11 Advertising income" instead of "Line 12 Other income" of the Form 109. The current instructions also directs the taxpayer to report the business expense deduction recapture on "Line 11" instead of "Line 11b Total other income" of Schedules K and K-1 (565 and 568).

2) The current instructions are incorrect because they reference the incorrect lines of the Worksheet V, NOL Computation & Loss Limitations.

3) The current instructions directs the taxpayer to enter the current year credits on Form 100S, Schedule K, "Line 13" instead of "Line 13d Other credits."

  • 1) Page 10, Instructions for Worksheet III: 2nd column, Section A, Line 4 and 3rd column, Section B, Line 2
    2) Page 17, Instructions for Worksheet V, Section C, Line 7, 3rd column
    3) Page 21, Instructions for Schedule Z, Part III, Line 10 and Line 11 , column (b)
    and pages 620, 627, and 631 of the Package X.

Previously read:

1) Line 4 - Enter the amount from line 4, column (b) on form FTB 3807, ..... and on your California tax return or schedule as follows:

  • Form 109, Part II, line 23.

Line 2 - Enter the total here, ...... and on your California tax return or schedule as follows:

  • Form 109, Part I, line 11.
  • Form 565, Schedule K, line 11 and Schedule K-I (565), line 11.
  • Form 568, Schedule K, line 11 and Schedule K-I (568), line 11.

2) Line 7 - Enter the amount from line 6 in column (d). . . . . .transfer the amounts from line 8 through line 11, column (b) to column (e). Go to line 12.

3) Line 10 and Line 11, column (b) - Enter the amount of current year credits….,Also include this amount on Form 100S, Schedule K, line 13.

Revised to:

1) Line 4 - Enter the amount from line 4, column (b) on form FTB 3807,. ..... and on your California tax return or schedule as follows:

  • Form 109, Part II, line 24.

Line 2 - Enter the total here, ...... and on your California tax return or schedule as follows:

  • Form 109, Part I, line 12.
  • Form 565, Schedule K, line 11b and Schedule K-1 (565), line 11b.
  • Form 568, Schedule K, line 11b and Schedule K-1 (568), line 11b.

2) Line 7 - Enter the amount from line 6 in column (d) ...... transfer the amounts from line 8 through line 18, column (b) to column (e). Go to line 19.

3) Line 10 and Line 11, column (b) - Enter the amount of current year credits.. .. . .Also include this amount on Form 100S, Schedule K, line 13d.

The incorrect line references may cause the taxpayer to underreport/over-report income, which will cause an incorrect amount of tax liability. This revision will help the taxpayer to correctly report the tax liability amount.

Back to Tax Form Changes for 2007

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