California Instructions for Form 100-ES Corporate Estimated Tax

Instructions for Form 100-ES Corporate Estimated Tax
2023 Instructions for Form 100-ES Corporation Estimated Tax
2024 Instructions for Form 100-ES
Corporation Estimated Tax

References in these instructions are to the Internal Revenue Code (IRC) as of January 1, 2015, and to the California Revenue and Taxation Code (R&TC).

What’s New
e-file Form 109 – For taxable years beginning
on or after January 1, 2023, the Franchise
Tax Board (FTB) offers e-file for exempt
organizations filing Form 109, California
Exempt Organization Business Income Tax
Return. Check with your software provider to
see if they support exempt organization e-file.

General Information
Use California Revenue and Taxation Code
(R&TC) Sections 19011, 19021, 19023, 19025
through 19027, and 19142 through 19161 to
determine the estimated tax requirement for
California.
Use Form 100-ES, Corporation Estimated
Tax, for the calendar year ending
December 31, 2024, or fiscal years ending in
2025. Complete Form 100-ES using black or
blue ink. Check only one box on Form 100‑ES
to indicate if the estimate payment is for
Form 100, California Corporation Franchise
or Income Tax Return; Form 100W, California
Corporation Franchise or Income Tax
Return – Water’s-Edge Filers; Form 100S,
California S Corporation Franchise or Income
Tax Return; or Form 109, California Exempt
Organization Business Income Tax Return.
If the business entity does not owe any tax,
do not mail this form with a zero balance. If a
business entity pays electronically, do not mail
this form.
Corporations
Unless stated otherwise, the term
“corporations,” as used in Form 100-ES and
in these instructions, includes banks, financial
corporations, certain associations, regulated
investment companies, real estate investment
trusts, exempt organizations with unrelated
business taxable income, exempt homeowners’
associations with non‑exempt function income,
limited liability companies (LLCs) and limited
partnerships (LPs) that have elected to be
taxed as corporations for federal tax purposes,
and S corporations.
LLC Election
If an LLC elects to be taxed as a corporation
for federal tax purposes, the LLC must
file Form 100‑ES and enter the California
corporation number, federal employer
identification number (FEIN), and California
Secretary of State (SOS) file number, if
applicable, in the space provided. The FTB
will (1) assign an identification number to an
LLC that files as a corporation, and (2) notify
the LLC with the identification number upon
receipt of the first estimated tax payment, first
tax payment, or the first tax return. The LLC
will be subject to the applicable provisions
of the Corporation Tax Law and should be
considered a corporation for the purpose of all
instructions unless otherwise indicated.

Single-Sales Factor Formula
R&TC Section 25128.7 requires all business
income of an apportioning trade or business,
other than an apportioning trade or business
under R&TC Section 25128(b), to apportion
its business income to California using the
single‑sales factor formula. Get Schedule R,
Apportionment and Allocation of Income, or
R&TC Section 25128.7 for more information.
Market Assignment
R&TC Section 25136 requires all taxpayers
to assign sales, other than sales of tangible
personal property, based on the market
assignment rule. For more information, get
Schedule R, or go to ftb.ca.gov and search for
market assignment.
Private Mail Box (PMB)
Include the PMB in the address field. Write
“PMB” first, then the box number.
Example: 111 Main Street PMB 123.

A	Purpose
Use Form 100-ES to figure and pay estimated
tax for a corporation. Estimated tax is the
amount of tax the corporation expects to owe
for the taxable year.

B	 Who Must Pay Estimated Tax
One or more payments of estimated tax are
­required annually from each:
•	 Corporation incorporated or qualified under
the laws of California or doing business
in California, whether active, inactive,
or having income from sources within
California, unless otherwise provided by the
Corporation Tax Law.
•	 LLC or LP electing to be treated as a
corporation for tax purposes.
•	 Bank and national banking association doing
business in California.
•	 Exempt organization or trust with unrelated
business income.
•	 Exempt homeowners’ association with
non‑exempt function income.
An S corporation that is a parent of a Qualified
Subchapter S Subsidiary (QSub) is required to
pay the $800 annual tax for each QSub that is:
•	 Incorporated in California.
•	 Qualified to do business in California.
•	 Doing business in California.
The QSub annual tax is due and payable
when the S corporation’s first estimated tax
payment is due. If the QSub is acquired during
the taxable year, the QSub annual tax is due
with the S corporation’s next estimated tax
payment after the date of the QSub election or
acquisition. The QSub annual tax is subject to
the estimated tax rules and penalties.
Enter the total amount of QSub annual tax paid
in the space for QSub Tax Amount. Enter the
estimated installment payment amount in the
space for Estimated Tax Amount. Combine the
two amounts and enter the total payment of

both QSub annual tax and regular estimated
tax in the space for Total Installment Amount.
Real estate mortgage investment conduits
(REMICs) are not required to pay estimated
tax. However, use this form to remit the
minimum franchise tax due by the 15th day of
the 4th month of the taxable year.
Financial asset securitization investment trusts
(FASITs) are subject to the $800 minimum tax.
Get Form 100, Corporation Tax Booklet, for
more information.

C	 Estimated Tax and Tax Rates
R&TC Section 19023 defines tax, for purposes
of California estimate payments, to include
alternative minimum tax, S corporation taxes
from Schedule D (100S), S Corporation Capital
Gains and Losses and Built-In Gains, excess
net passive income, the QSub annual tax,
credit recapture, and the minimum franchise
tax. This definition of tax does not conform
to the federal definition of tax. Also, taxable
income for S corporations includes the
R&TC Section 23802(e) deduction for passive
investment income and built-in gains.
To compute estimated tax liability, multiply the
estimated net income for tax purposes by the
applicable rate:
•	 Corporations, use 8.84%.
•	 S corporations, use 1.5%.
•	 Banks and financial corporations, use
10.84%.
•	 Financial S corporations, use 3.5%.
•	 Exempt trusts, use personal income tax rate
Schedule X (single) inside California 540,
Personal Income Tax Booklet.

D	 Installment Due Dates and
Amounts
Estimated tax is payable in four installments.
The installments are due and payable by the
15th day of the 4th, 6th, 9th, and 12th month
of the taxable year. When the due date falls on
a weekend or holiday, the deadline to file and
pay without a penalty is extended to the next
business day.
Corporations may pay any estimated tax
installment before the due date.
The amount of each installment is the
applicable percentage of the total estimated
tax due (estimated income multiplied by the
appropriate tax rate). Corporations are required
to pay the following percentages of the
estimated tax liability during the taxable year:
•	 30% for the first required installment
•	 40% for the second required installment
•	 No estimated tax payment is required for the
third installment
•	 30% for the fourth required installment

Form 100-ES Instructions  2023  Page 1

Franchise Tax Filers
If the amount of estimated tax does not
exceed the minimum franchise tax plus any
QSub annual tax (if applicable), then the
entire amount of the minimum tax and the
QSub annual tax is due as an estimate on or
before the 15th day of the 4th month of the
corporation’s taxable year.
If the amount of estimated tax exceeds the
minimum franchise and the QSub annual tax (if
applicable), then the estimated tax is payable
in four installments. However, to avoid the
imposition of an estimated tax penalty, at least
the minimum franchise tax and QSub annual
tax (if applicable) must be paid by the due date
of the first installment.
Income Tax Filers
The amount of the estimated tax is payable in
four installments. Refer to General Information
Section C, Estimated Tax and Tax Rates, for the
applicable tax rates.
Short-Period Filers
A corporation with an accounting period of
less than 12 months (short period) must pay
estimated tax in the number of installments
shown in the “Accounting Period Less Than 12
Months (Short Period)” table on page 4.
Overpayments From Prior Year Returns
The overpayment from a prior year return is
credited as of the first estimate installment due
date or the date of payment, whichever is later.
For more information, get federal
Rev. Rul. 99‑40, Internal Revenue Code
Section 6513(b)(1) and (2), and the
IRS Internal Revenue Manual 20.2.4.3
(03‑05‑2015).

E	 Minimum Franchise Tax
All corporations subject to the franchise tax
must pay at least the minimum franchise
tax shown below, whether they are active,
inactive, operate at a loss, or file a tax return
for a short period.
•	 Corporations subject to franchise tax . .  $800
•	 Qualified inactive gold or
quicksilver mining operation . . . . . . . . .  $25
Entities subject to the corporation minimum
franchise tax include all corporations that meet
any of the following:
•	 Incorporated or organized in California.
•	 Qualified or registered to do business in
California.
•	 Doing business in California, whether or
not incorporated, organized, qualified, or
registered under California law.
A combined group filing a single tax return
must pay at least the minimum franchise
tax for each corporation in the group that is
subject to franchise tax.
There is no minimum franchise tax for:
•	 Corporations that are subject only to
income tax if they are not “doing business”
in California, and are not incorporated
or qualified under the laws of California,

Page 2  Form 100-ES Instructions  2023

but derive income from sources within
California. However, if corporations
meet the sale, property, or payroll
threshold for “doing business” under
R&TC Section 23101(b), corporations may
be subject to the minimum franchise tax.
•	 Corporations that are not incorporated
under the laws of California and whose
sole activities in California are engaging in
convention and trade show activities for
seven or fewer days during a taxable year
and that do not derive more than $10,000 of
gross income reportable to California during
a taxable year.
•	 Qualified non-profit farm cooperative
associations.
•	 Credit unions.
•	 Unincorporated homeowners’ associations.
•	 Exempt homeowners’ associations.
•	 Exempt political organizations.
•	 Exempt organizations.
For the definition of doing business in
California, get Form 100, 100W, 100S or 109
Tax Booklets.
For more information, get FTB Pub. 1050,
Application and Interpretation of Public
Law 86-272; or FTB Pub. 1060, Guide for
Corporations Starting Business in California.

The FTB notifies corporations that are subject
to this requirement. Those that do not meet
these requirements may participate on a
voluntary basis. If the corporation pays
electronically, do not mail the estimated
tax voucher. For more information,
go to ftb.ca.gov and search for eft or
call 916.845.4025.

Newly Formed or Qualified Corporations
For the first taxable year, newly formed or
qualified corporations are not subject to
the minimum franchise tax. To avoid an
estimated tax penalty, newly formed or
qualified corporations should calculate the
estimate installments based on annualized
current year income. See the instructions
under General Information I, Exceptions to
the Estimated Tax Penalty, Worksheet II,
Exception B, Annualized Current Year Income,
for more information.
Deployed Military Exemption
For taxable years beginning on or after
January 1, 2020, and before January 1, 2030,
a corporation that is a small business solely
owned by a deployed member of the United
States Armed Forces shall not be subject to the
minimum franchise tax if the owner is deployed
during the taxable year and the corporation
operates at a loss or ceases operation.

If estimated tax is due, and the corporation is
not paying electronically through EFT, EFW,
Web Pay or credit card, make the check or
money order using black or blue ink payable to
the “Franchise Tax Board.” Write the California
corporation number, FEIN, and California
SOS file number, if applicable, and “2024
Form 100-ES” on the check or money order.
Make all checks or money orders payable in
U.S. dollars and drawn against a U.S. financial
institution.
Enclose, but do not staple, a check or money
order with this form and mail to:
	 FRANCHISE TAX BOARD
PO BOX 942857
SACRAMENTO CA 94257-0531

F	 Methods of Payment
Electronic Funds Transfer (EFT)
Corporations remitting an estimated tax
payment or extension payment in excess of
$20,000 or having a total tax liability in excess
of $80,000 must remit all payments through
EFT. Once a corporation meets the threshold,
all subsequent payments regardless of amount,
tax type, or taxable year must be remitted
electronically to avoid a 10% non‑compliance
penalty. The first payment that would trigger
the mandatory EFT requirement does not
have to be made electronically. Corporations
required to remit payments electronically
may use electronic funds withdrawal (EFW),
Web Pay or a credit card and be considered in
compliance with that requirement.

Electronic Funds Withdrawal (EFW)
Corporations can make an estimated tax
payment using tax preparation software. Check
with the software provider to determine if they
support EFW for estimated tax payments.
Web Pay
Corporations can make payments online
using Web Pay for Businesses. Corporations
can make an immediate payment or schedule
payments up to a year in advance. Go to
ftb.ca.gov/pay for more information.
Credit Card
Use a Discover, MasterCard, Visa, or American
Express Card to pay estimated taxes. Go
to officialpayments.com. ACI Payments,
Inc. (formerly Official Payments) charges a
convenience fee for using this service.

G	 Where to File

H	 Underpayment or Late
Payment
Generally, an underpayment of estimated tax
is the difference between (1) the amount that
would be due for each installment of estimated
tax if the estimated tax was equal to 100% of
the tax shown on the return, prorated to each
installment, and (2) the amount actually paid
or credited on or before the due date of that
installment.
Underpayment or late payment of estimated
tax installments will result in an estimated tax
penalty calculated from the due date of each
installment until paid, or until the 15th day of
the 3rd month after the close of the taxable
year if filing Form 100, 100W or 100S, or the
15th day of the 5th month after the close of the
taxable year if filing Form 109, whichever is
earlier. See General Information I, Exceptions
to the Estimated Tax Penalty, and use form
FTB 5806, Underpayment of Estimated Tax by

Corporations, to determine if an exception to a
penalty exists and to figure the penalty.
California does not conform to federal law
regarding the application of the underpayment
penalty. For federal purposes, the application
of the penalty is based on the lesser of prior
year or current year tax; while for ­California
purposes, the application of the penalty is
based on current year tax only.

I	 Exceptions to the Estimated
Tax Penalty
If the estimated tax paid is equal to
or greater than the amount defined in
General Information H, Underpayment or Late
Payment, the FTB will not assess an estimated
tax penalty. If an underpayment exists, the FTB
will not assess the estimated tax penalty if the
corporation meets any one of the exceptions
listed below.
California difference – Under California law,
the exceptions are computed on a cumulative
basis. This differs from federal law which
requires only 25% of the annual payment for
each installment.
The following exceptions do not apply if the
estimated tax installments due are not paid on
or before the installment due date.
Worksheet I — Exception A – Prior Year’s Tax
This exception applies if the amount paid
or ­credited on or before the installment due
date equals or exceeds the tax shown on the
preceding year’s return for a 12-month period,
prorated to each installment.
Newly Formed or Qualified Corporations
The prior year’s tax exception does not apply
for the first taxable year. For the second
taxable year, the prior year tax exception does
not apply if no tax liability existed in the first
taxable year, or the business operated for less
than twelve full months.
If the corporation uses the annualized current
year income method or the annualized seasonal
income method, see Worksheets II, III, and IV.
Line 1 – Taxable income
Enter the amount of taxable income expected
for the current taxable year.

Line 11
A large corporation is any corporation,
including a predecessor corporation, that
had California net income (computed without
regard to the net operating loss deduction) of
$1 million or more for any taxable year during
the three taxable years immediately preceding
the current taxable year.
Large corporations may use this exception
for only the first estimated tax installment and
must add any reduction in the first estimated
tax installment to the second installment.
If the annualized current year income method
or annualized seasonal income method is not
used for the third or fourth installment, follow
the instructions in the next column to figure
the amounts to enter on line 11 of Worksheet I.
•	 If line 8 is smaller than line 9, multiply line 8
(total tax) by the applicable percentage
(30%, 70%, 70%, or 100%) shown for each
quarter at the top of column (1) through
column (4). Enter the result for each quarter
on line 11.
•	 If line 9 is smaller than line 8, determine the
amount to enter as follows:
(a)	Enter 30% of line 9 in column (1) of
line 11.
(b)	Enter 70% of line 8 in column (2) of
line 11.
(c)	Enter 70% of line 8 in column (3) of
line 11.
(d)	Enter 100% of line 8 in column (4) of
line 11.
Line 12 – Total payments
Enter the total payments of ­estimated tax for
the taxable year paid prior to the due date of
the installment. Include any overpayments
from 2023 tax that were credited to 2024
estimated tax.
Worksheet II — Exception B – Annualized
Current Year Income
This exception applies if the estimated tax
paid on or before the installment due date
equals or exceeds 100% of the amount the
corporation would owe if its estimated tax was
computed on annualized current net income
for tax purposes for the months preceding the
installment due date.

Line 7 – Other taxes
R&TC Section 19023 defines tax, for purposes
of ­California estimate payments, to include
alternative minimum tax, S corporation taxes
from Schedule D (100S), excess net passive
income, the QSub annual tax, credit recapture,
and the minimum franchise tax. Enter
applicable amounts for each payment period.

Line 1 – Annualization periods
Enter the number of months that the
corporation is using in the annualization period
based on the options listed in the table below.
For example, if the corporation elects Option 1,
enter the annualization periods 2, 4, 7, and 10
in column (1) through column (4), respectively.

Line 9
Enter the tax shown on the corporation’s 2023
tax return.
Note: If the S Corporation included the
pass-through entity elective tax on Form 100S,
line 29, exclude that amount from Worksheet I,
line 9.

Installment
Standard Option
Option 1
Option 2

Annualization Periods
1st
3
2
3

2nd
3
4
5

3rd
6
7
8

4th
9
10
11

Corporations may use the Standard Option
or must make an election to use Option 1
or Option 2. Exempt organizations may use
Option 1 (the standard option for exempt
organizations) or must make an election to
use Option 2. The election must be made on
or before the due date of the first required
installment payment. The corporation must
make a timely election to use an expanded
option even if it uses another method, such as
Exception A, for its first installment.
To make a California election, file federal
Form 8842, Election To Use Different
Annualization Periods for Corporate Estimated
Tax, or if a timely election was made for federal
purposes by filing the federal Form 8842, and
the corporation is using the same option for
state purposes, attach a copy of the federal
form to the corporation’s tax return when filed.
Once made, an election is irrevocable for the
taxable year. The corporation should file federal
Form 8842 with its first installment payment. If
the corporation must pay its tax liability using
EFT, file federal Form 8842 on or before the
due date of the first installment payment by
mailing to:
	 FRANCHISE TAX BOARD
PO BOX 942857
SACRAMENTO CA 94257-0531
Line 3 – Annualization amounts
Enter the annualization amounts from the table
below for the elected option. For example,
if the corporation elects Option 1, enter on
line 3 the annualization amounts 6, 3, 1.71429,
and 1.2, in column (1) through column (4),
respectively.
Annualization Amounts
Installment
Standard Option
Option 1
Option 2

1st 2nd
4
4
6
3
4 2.4

3rd
2
1.71429
1.5

4th
1.33333
1.2
1.09091

Line 8 – Other taxes
R&TC Section 19023 defines tax, for purposes
of ­California estimate payments, to include
alternative minimum tax, S corporation taxes
from Schedule D (100S), excess net passive
income, the QSub annual tax, credit recapture,
and the minimum franchise tax. Enter
applicable amounts for each payment period.
Line 12 – Total payments
Enter the total payments of estimated tax for
the taxable year paid prior to the due date of
the installment. Include any overpayments
from 2023 tax that were credited to 2024
estimated tax.
Worksheet III — Exception C – Annualized
Seasonal Income
This exception applies if the estimated tax
paid on or before the installment due date
equals or exceeds 100% of the amount the
corporation would owe if its estimated tax was

Form 100-ES Instructions  2023  Page 3

computed on annualized seasonal net income
for tax purposes for the months preceding the
installment due date. Use Exception C only if
the corporation’s base period percentage for
any six consecutive months of the taxable year
equals or exceeds 70%. Get the instructions
for federal Form 2220, Underpayment of
Estimated Tax by Corporations, Schedule A,
Part I, Adjusted Seasonal Installment Method,
for an explanation on how to compute the base
period percentage.
Line 32 – Other taxes
R&TC Section 19023 defines tax, for purposes
of ­California estimate payments, to include
alternative minimum tax, S corporation taxes
from Schedule D (100S), excess net passive
income, the QSub annual tax, credit r­ ecapture,
and the minimum franchise tax. Enter
applicable amounts for each payment period.
Note: Last in first out (LIFO) recapture
amounts are not included in the computation
of an estimated tax underpayment penalty.

Line 34 – Total payments
Enter the total payments of estimated tax for
the taxable year paid prior to the due date of
the installment. Include any overpayments
from 2023 tax that were credited to 2024
estimated tax.

J	 Revised Estimates
Corporations may revise the estimated tax any
time during the taxable year. If the corporation
revises the estimated tax, compute the amount
of each remaining installment (if any) by doing
the following:
•	 Subtracting from the revised estimated tax,
the total estimated tax previously paid.
•	 Dividing the result by the number of
installments remaining as of the date the
revision is made.

Franchise Tax Board Privacy
Notice on Collection
Our privacy notice can be found in annual tax
booklets or online. Go to ftb.ca.gov/privacy
to learn about our privacy policy statement,
or go to ftb.ca.gov/forms and search for
1131 to locate FTB 1131 EN-SP, Franchise Tax
Board Privacy Notice on Collection - Aviso de
Privacidad del Franchise Tax Board sobre la
Recaudación. To request this notice by mail,
call 800.338.0505 and enter form code 948
when instructed.

Accounting Period Less Than 12 Months (Short Period) — Fiscal year corporations, adjust dates accordingly.
Number of
If taxable year (calendar year) begins:

Percentage of Estimated Tax Due On or Before*

Installments Due

April 15

June 15

September 15

December 15

January 1 through January 16

4

30%

70%

70%

100%

January 17 through March 16

3

60%

60%

100%

March 17 through June 15

2

70%

100%

June 16 through September 15

1

September 16 through December 31

None

*When the due date falls on a weekend or holiday, the deadline to file and pay without penalty is extended to the next business day.

Page 4  Form 100-ES Instructions  2023

100%

Computation of Estimated Tax
Worksheet I  Exception A — Prior Year’s Tax
	 1	 Taxable income expected during this taxable year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1  ___________________
	 2	 R&TC Section 23802(e) deduction, S corporations only. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   2  ___________________
	 3	 Net income. Subtract line 2 from line 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   3  ___________________
	 4	 Tax. Multiply line 3 by the current tax rate. See General Information C. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   4  ___________________
	 5	 Tax credits. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   5  ___________________
	 6	 Subtract line 5 from line 4. (Not less than minimum tax and QSub annual tax(es), if applicable.) . . . . . . . . . . . . . . . . . . . . . . . . . .   6  ___________________
	 7	 Other taxes. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   7  ___________________
	 8	 Total tax. Add line 6 and line 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   8  ___________________
	 9	 Enter the tax shown on the corporation’s 2023 tax return. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   9  ___________________
	 10	 Enter the smaller of line 8 or line 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10  ___________________
(1) 30%
11 Multiply line 10 by the percentage shown in column 1 through
column 4. Large corporations, see instructions. . . . . . . . . . . . . . . . . .

(2) 70%

(3) 70%

(4) 100%

(not less than min.)

12 Total payments. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Subtract line 12 from line 11. If zero or less, enter -0- . . . . . . . . . . . .
Large corporations: To meet the exception by paying prior year’s tax for the first estimate installment and paying the reduction in the first estimate installment
with the second estimate installment, the corporation must have paid the amounts in line 11, column (1) and column (2).

Worksheet II  Exception B — Annualized Current Year Income

(1)

(2)

(3)

(4)

30%

70%

70%

100%

1 Annualization periods. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Enter taxable income for each annualization period. . . . . . . . . . . . . . . . . . . . . . . . . . .
3 Annualization amounts. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 a  Annualized taxable income. Multiply line 2 by line 3 . . . . . . . . . . . . . . . . . . . . . . . .
b  R&TC Section 23802(e) deduction, S corporations only. . . . . . . . . . . . . . . . . . . . .
c  Net income. Subtract line 4b from line 4a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Tax. Multiply line 4c by the current tax rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Tax credits for each payment period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Subtract line 6 from line 5. (Not less than minimum tax and QSub annual tax(es)). . .
8 Other taxes. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9 Total tax. Add line 7 and line 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10 Applicable percentage . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Multiply line 9 by line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
12 Total payments. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
13 Annualized current year income installments. Subtract line 12 from line 11.
If zero or less, enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Form 100-ES Instructions  2023  Page 5

Worksheet III  Exception C — Annualized Seasonal Income
Use this method only if the base period percentage for any six consecutive months
is at least 70%. See instructions.

(1)

(2)

(3)

(4)

First 3 months

First 5 months

First 8 months First 11 months

First 4 months

First 6 months

First 9 months

Entire year

(1)

(2)

(3)

(4)

14 Enter the taxable income for the following periods:
a  Taxable year beginning in 2021. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b  Taxable year beginning in 2022. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c  Taxable year beginning in 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
15 Enter taxable income for each period for the taxable year beginning in 2024 . . . . . . .
16 Enter the taxable income for the following periods:
a  Taxable year beginning in 2021. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b  Taxable year beginning in 2022. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c  Taxable year beginning in 2023 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17 Divide the amount in each column on line 14a by the amount in column (4)
on line 16a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
18 Divide the amount in each column on line 14b by the amount in column (4)
on line 16b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
19 Divide the amount in each column on line 14c by the amount in column (4)
on line 16c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
20 Add line 17 through line 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21 Divide line 20 by 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
22 a  Divide line 15 by line 21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
b  R&TC Section 23802(e) deduction, S corporations only. . . . . . . . . . . . . . . . . . . . .
c  Net income. Subtract line 22b from line 22a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
23 Tax. Multiply line 22c by the current tax rate. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24 Divide the amount in column (1) through column (3) on line 16a by the
amount in column (4) on line 16a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25 Divide the amount in column (1) through column (3) on line 16b by the
amount in column (4) on line 16b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26 Divide the amount in column (1) through column (3) on line 16c by the
amount in column (4) on line 16c. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
27 Add line 24 through line 26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28 Divide line 27 by 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
29 Multiply the amount in column (1) through column (3) of line 23 by the
amount in the corresponding column of line 28. In column (4), enter the
amount from line 23, column (4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30 Tax credit for each payment period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
31 Subtract line 30 from line 29. (Not less than minimum tax and QSub annual tax(es),
if applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32 Other taxes. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33 Total tax. Add line 31 and line 32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34 Total payments. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35 Adjusted seasonal installments. Subtract line 34 from line 33. If zero or less,
enter -0-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Worksheet IV — Required Installments
36 If only Worksheet II, Exception B or Worksheet III, Exception C are completed
enter the amount in each column from line 13 or line 35. If both Worksheet II
and Worksheet III are completed, enter the smaller of the amounts in each
column from line 13 or line 35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
37 Enter the amount from Worksheet I, line 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
38 Required installments. Enter the smaller of line 36 or line 37 here and
on the appropriate form for each installment payment . . . . . . . . . . . . . . . . . . . . . . . .

Page 6  Form 100-ES Instructions  2023