Skip to Main Content
State of California Franchise Tax Board

Changes to 2012 Forms

Updates to the Form 540NR (Long) Instructions on 03/02/2014 –– Instructions for 540NR Long Form, California Nonresident or Part-Year Resident Income Tax Return (Long).

We replaced text on Page 20, Column 1, Box A, last bullet.

Previous Version:

Note: new text added.

Revised Version:

Excluded gain on the sale of qualified small business stock.

Reason for change

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

This revision may decrease the tax liability for taxpayers who did not report a QSBS exclusion or deferral for taxable years beginning on or after January 1, 2008.

Back to Tax Form Changes for 2012

Chat with an FTB Representative