Skip to Main Content
State of California Franchise Tax Board

Changes to 2009 Forms

Updates to the Form 593-I Instructions on 06/15/2010 –– Real Estate Withholding Installment Sale Acknowledgment

We replaced text on the Form 593-I Instructions on Page 2, Column 1, Additional Information, Toll-free phone number.

Previous Version

888.792.4000

Revised Version

888.792.4900

Reason for the changes

To correct a typo in the toll-free phone number.

Impact

There is no tax impact.


Updates to the 2009 Instructions for Form 593-I -- Real Estate Withholding Installment Sale Acknowledgement

The revised Internet version is available for download as of 01/12/2009.

Revision Details: Based on AB 3078, for taxable years beginning on or after January 1, 2009, the buyer is required to withhold on the principal portion of each installment payment if the sale of California real property is structured as an installment sale. Currently within the Purpose Section of form 593-I, the instructions state, "If you do not complete form 593-I and send it to us, you must withhold either the full 3 1/3 % of the sales price or the optional gain on sale withholding amount on form 593 line 5 certified by the seller." This sentence should have been removed due to changes based on AB 3078.

  • Updated section: Page 1, Column 1, Purpose, Paragraph 2

Previously read:

  • If you are the buyer you must withhold on the principal portion of each installment payment, complete Form 593-I, Real Estate Withholding Installment Acknowledgement, and have your real estate escrow person send the completed Form 593-I, a copy of the promissory note, and seller’s certified Form 593 to the Franchise Tax Board (FTB) with the withholding on the principal portion of the first installment payment. If you do not complete Form 593-I and send it to us, you must withhold either the full 3 1/3% of the total sales price or the Optional Gain on Sale withholding amount on Form 593, line 5, that is certified by the seller.

Revised to:

  • If you are the buyer you must withhold on the principal portion of each installment payment, complete Form 593-I, Real Estate Withholding Installment Acknowledgement, and have your real estate escrow person send the completed Form 593-I, a copy of the promissory note, and seller’s certified Form 593 to the Franchise Tax Board (FTB) with the withholding on the principal portion of the first installment payment.

Back to Tax Form Changes for 2009

Help us improve our website

Don't include social security numbers or other personal/confidential information.



Thank you for your help.

If you need assistance, contact us.

Oops! Something went wrong.

We appreciate your feedback. Please try again later

Chat with an FTB Representative
 

You are leaving ftb.ca.gov

We do not control the destination site and cannot accept any responsibility for its contents, links, or offers. Review the site's security and confidentiality statements before using the site.

If you have any issues or technical problems, contact that site for assistance.

Ahora está saliendo de ftb.ca.gov

Nosotros no controlamos el sitio web al que se destina y no podemos aceptar ninguna responsabilidad por su contenido, enlaces, u ofertas. Revise las declaraciones de seguridad y confidencialidad del sitio antes de usar el sitio. Si tiene algún problema en general o técnico, comuníquese con ese sitio para obtener asistencia.

Si tiene algún problema en general o técnico, comuníquese con ese sitio para obtener asistencia.