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California Water's-Edge Foreign Investment Interest Offset
Extracted from PDF file 2023-california-form-2424.pdf, last modified October 2023Water's-Edge Foreign Investment Interest Offset
TAXABLE YEAR 2023 Water’s-Edge Foreign Investment Interest Offset CALIFORNIA FORM 2424 Attach this form to the back of Form 100W or Form 100S. Key corporation name 1 2 3 Key California corporation number 1 00 2 00 Interest expense specifically assignable to foreign investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 00 4 Interest expense specifically assignable to domestic investment or other property . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 00 5 Unassigned interest expense, add line 3 and line 4, and subtract from line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 00 6 Unassigned interest expense included in line 5, paid on debt incurred prior to January 1, 1988 . . . . . . . . . . . . . . . . . . . . . . . 6 00 7 Unassigned interest expense included in line 5, paid on debt incurred on or after January 1, 1988 . . . . . . . . . . . . . . . . . . . . . 7 00 8 Interest expense included in line 7, paid with respect to debt proceeds deposited in restricted accounts . . . . . . . . . . . . . . . . 8 00 9 Subtract line 8 from line 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 00 10 Unassigned interest expense subject to allocation. Add line 6 and line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 00 Dividend deduction (R&TC Section 24411) from Schedules H (100W or 100S), Part II, line 4, column (g) . . . . . . . . . . . . . If line 1 is zero, the interest offset is zero. Do not complete this form. Total interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Unassigned foreign investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 00 12 Unassigned total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 00 13 Percentage. Divide line 11 by line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 ___ ___ ___ . ___ ___ % 14 Unassigned interest expense allocated to foreign investment. Multiply line 10 by line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 00 15 Interest expense attributable to foreign investment. Add line 3 and line 14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 00 16 Enter the smaller of line 1 or line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 00 17 Multiply line 16 by 75% (.75). Enter here and on Schedule R, Side 1, line 1b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 00 The remaining interest expense is subject to the provisions of R&TC Section 24344(b). 7211233 FTB 2424 2023
2023 Form 2424 Waters-Edge Foreign Investment Interest Offset
More about the California Form 2424 Corporate Income Tax TY 2023
We last updated the Water's-Edge Foreign Investment Interest Offset in February 2024, so this is the latest version of Form 2424, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 2424 directly from TaxFormFinder. You can print other California tax forms here.
Other California Corporate Income Tax Forms:
TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms.
| Form Code | Form Name |
|---|---|
| 3805-Z Booklet | Enterprise Zone Business Booklet |
| Form 100-ES | Corporation Estimated Tax |
| Form 541 Schedule K-1 | Beneficiary's Share of Income, Deductions, Credits, etc. |
| Form 3539 (Corp) | Payment for Automatic Extension for Corps and Exempt Orgs |
| Form 3537 (LLC) | Payment for Automatic Extension for LLCs |
View all 175 California Income Tax Forms
Form Sources:
California usually releases forms for the current tax year between January and April. We last updated California Form 2424 from the Franchise Tax Board in February 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of California Form 2424
We have a total of thirteen past-year versions of Form 2424 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 2424
2023 Form 2424 Waters-Edge Foreign Investment Interest Offset
2022 Form 2424
2022 Form 2424 Waters-Edge Foreign Investment Interest Offset
2021 Form 2424
2021 Waters-Edge Foreign Investment Interest Offset Form 2424
2020 Form 2424
2020 Form 2424 Waters-Edge Foreign Investment Interest Offset
2019 Form 2424
2019 Form 2424 - Waters-Edge Foreign Investment Interest Offset
2018 Form 2424
2018 Form 2424 - Waters-Edge Foreign Investment Interest Offset
2017 Form 2424
2017 Form 2424 - Waters-Edge Foreign Investment Interest Offset
2016 Form 2424
2016 Form 2424 Water's-Edge Foreign Investment Interest Offset
2015 Form 2424
2015 Form 2424 -- Water's-Edge Foreign Investment Interest Offset
2014 Form 2424
2014 Form 2424 -- Water's-Edge Foreign Investment Interest Offset
2013 Form 2424
2013 Form 2424 -- Water's-Edge Foreign Investment Interest Offset
2012 Form 2424
2012 Form 2424
2011 Form 2424
2011 Form 2424 -- Water's-Edge Foreign Investment Interest Offset
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