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State of California Franchise Tax Board

Changes to 2008 Forms

Updates to the Form 3565 on 02/24/2014 –– Small Business Stock Questionnaire

We replaced text on Side 1, Question O.

Previous Version

O. Since the issuance of non-treasury stock, were at least 80% (by value) of the corporation’s assets used in the active conduct of one or more qualified trades or businesses in California? See instructions……… Yes No

Revised Version

O. Since the issuance of non-treasury stock, were at least 80% (by value) of the corporation’s assets used in the active conduct of one or more qualified trades or businesses? See instructions……… Yes No

Reason for the changes

AB 1412 (Stats.2013, ch. 546), signed by the Governor on October 4, 2013, retroactively allows the Qualified Small Business Stock (QSBS) deferral and 50 percent gain exclusion for tax years 2008 through 2012.

Impact

No tax impact.

Back to Tax Form Changes for 2008

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