Skip to Main Content
State of California Franchise Tax Board

Changes to 2012 Forms

Updates to the Schedule P (541) on 06/09/2014 — Alternative Minimum Tax and Credit Limitations - Fiduciaries

We replaced text on Side 3, Part IV, Section A1, Line 5

Previous Version

Section A – Credits that reduce excess tax.


(a) Credit amount

(b) Credit used this year (c) Tax balance that may be offset by credits (d) Credit carryover

4 Code: 162 Prison inmate labor credit... 4
5 Code: 169 Enterprise Zone employee credit... 5

Revised Version

Section A – Credits that reduce excess tax.


(a) Credit amount

(b) Credit used this year (c) Tax balance that may be offset by credits (d) Credit carryover

4 Code: 162 Prison inmate labor credit... 4
5 Code: 169 Enterprise Zone employee credit... 5

Reason for the changes

An estate or trust is not an individual that works for wages, so it does not qualify for the credit.

Impact

No tax impact.

Back to Tax Form Changes for 2012

Chat with an FTB Representative