| Shareholder's Quarterly State Income Tax 540-ES |
Go to topics |
|
This form reports the same non-salary income as 1040ES.
Each shareholder who receives non-salary income during the quarter should
complete this form unless they have regular withholding on at least 90% of their total
income.
S-corporation shareholders owe quarterly estimated tax payments on their share
of the corporations' net income.
C-corporation shareholders only owe taxes if they received dividends during a quarter.
|
| Forms to use | |
540-ES Worksheet
540-ES Payment Coupon
Instructions |
|
|
| How often? |
|
Quarterly payment requirement |
|
| Tax rates | |
1-9.3%
S-corporation: each shareholder's portion of the corporation's net taxable income or
C-corporation: dividends received by each shareholder.
|
|
| How to complete the form | |
| Line | What to enter |
| 1 | Adjusted gross income. Go back to IRS 1040ES and use the
figure you calculated for line 1. |
| 2 | To simplify this form, just use the standard deduction. You may overpay
slightly. If you do, you will receive a refund when you file the annual return.
- Single or married filing separately: $3,410
- All others: $6,820
|
| 3 | Total income: line 1 minus line 2. |
| 4 | Annual tax on line 3: Use the tax tables found here. |
| 5 | For nonresidents (or partial year residents) only. |
| 6 | $91 times the number of adults plus $272 times the number of your dependents. |
| 8 | Line 4 minus line 6. |
| 9-17 | Unless you had tax credits on last year's tax return (for
joint custody, dependent parent, head of household, etc.) or had installment interest
income, skip lines 9 to 17. |
| 18 | Total tax due: assuming that you had no credits, the same as line 7. |
| 19 | Amount to avoid penalties. Enter either 90% of line 15 or 100% of last year's tax, whichever is less.
Farmers, fishermen and people with income over $156,400, see the form for special instructions. |
| 20 | Income tax that will be withheld during the year through payroll deductions on other jobs. |
| 21 | Total tax that must be deposited with Form 540-ES this year (line 20 minus line 19). |
| 22 | Divide line 21 by the number of quarterly due dates before
next April 15th. For example, if it is June 2,
divide by 3 (June 15, September 15, and January 15). Pay this amount this quarter. |
|
|
| Due date | |
April 15, June 15, September 15, January 15. |
|
| To pay | |
There are three payment options for shareholders:
- Pay online. To do this, each shareholder must first obtain a customer service number online. You will need your social security
number and your gross wages (for California) from last year's tax return.
- Pay using a credit card at Official Payments Corporation at (800) 272-9829. For questions call (877) 754-4413 or visit
http://www.officialpayments.com.
- Pay by check and 540-ES voucher to:
Franchise Tax Board
PO Box 942867
Sacramento, CA 94267-0031
Shareholders should keep the worksheet for their records.
|
|
| Questions? | |
Call the California Franchise Tax Board (800) 852-5711. For forms, go to
http://www.ftb.ca.gov/forms/search/index.aspx
or call (800) 338-0505.
|
|
|
Search
Navigation
Taxes and required forms
see more
Compliance help
see more
Need help working with a state agency?
|
