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California Underpayment of Estimated Tax by Corporations
Extracted from PDF file 2023-california-form-5806.pdf, last modified August 2023Underpayment of Estimated Tax by Corporations
TAXABLE YEAR 2023 Underpayment of Estimated Tax by Corporations CALIFORNIA FORM 5806 For calendar year 2023 or fiscal year beginning (mm/dd/yyyy)_____________, and ending (mm/dd/yyyy)_____________. Corporation name California corporation number Part I Figure the Underpayment 1 1 Current year’s tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (a) (b) (c) 2 Installment due dates. See instructions . . . . . . . . . . . . . . . . . . . 2 30% 70% less 1st 70% less prior 3 Percentage required. See instructions . . . . . . . . . . . . . . . . . . . . 3 (d) 100% less prior (not less than min.) 4 Amount due. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . 5 a Amount paid or credited for each installment . . . . . . . . . . . . b Overpayment from previous installment. See instructions. . . 6 Add line 5a and line 5b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Underpayment (subtract line 6 from line 4). See instructions. Overpayment (subtract line 4 from line 6). If line 7 shows an underpayment for any installment, go to Part IV, Exceptions Worksheets. . . . . . . . . . . . . . . . . . . . 4 5a 5b 6 7 Part II Exceptions to the Penalty. See instructions. If Exception A, line 8a is met for all four installments, do not attach this form to the return. If Exception B or C is met, for any installment, attach form FTB 5806 to the back of Form 100, Form 100W, Form 100S or Form 109. (check the applicable boxes) 8 a Exception A – Regular Corporations, line 26 met? . . . . . . . . b Exception A – Large Corporations, line 30, met? . . . . . . . . . 9 Exception B (line 42) met? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Exception C (line 64) met? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No Yes No Yes No Yes 8a 8b 9 10 Part III Figure the Penalty. If line 7 shows an underpayment for any installment and none of the three exceptions is met, figure the penalty for that installment by completing line 11 through line 22. (b) (c) (d) (a) 11 Enter the earlier of the payment date, or the 15th day of the 3rd month after the close of the taxable year. Form 109 filers, see instructions. . . . . . . . . . . . . . . . . . . . . . . . 11 12 Number of days from date shown on line 2 to date shown on line 11 . . 12 13 Number of days on line 12 before 7/01/23, or the payment date, whichever is earlier. . . . . . . . . . . . . . . . . . . . . . . . 13 14 Number of days on line 12 after 6/30/23 and before 1/01/24, or the payment date, whichever is earlier. . . . . . . . . . . . . . . . . . . . . . . . 14 15 Number of days on line 12 after 12/31/23 and before 7/01/24, or the payment date, whichever is earlier. Calendar year corporations, see instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 For fiscal year corporations only. Number of days on line 12 after 6/30/24 and before 1/01/25. See instructions. . . . . . . . . . . . . . . . . . . 17 For fiscal year corporations only. Number of days on line 12 after 12/31/24 and before 2/15/25. See instructions. . . . . . . . . . . . . . . . . . 18 Number of days on line 13 Number of days in taxable year 19 Number of days on line 14 Number of days in taxable year 20 Number of days on line 15 Number of days in taxable year 21 Number of days on line 16 Number of days in taxable year 22 Number of days on line 17 Number of days in taxable year 15 16 17 x 5% x line 7 . . . . . . . . . . . . . . . 18 x 7% x line 7 . . . . . . . . . . . . . . . 19 x 7% x line 7 . . . . . . . . . . . . . . . 20 x % (see instructions) x line 7 . . 21 x % (see instructions) x line 7 . . 22 22a Add amounts for each column from line 18 through line 22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22a 22b Total estimated penalty due. Add line 22a, column (a) through column (d). Enter here and on Form 100, line 43a; Form 100W, line 40a; Form 100S, line 44a; or Form 109, line 27 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7691233 22b FTB 5806 2023 Side 1 No Part IV Exceptions Worksheets. Even if line 7 shows an underpayment for any installment, the Franchise Tax Board will not assess a penalty if timely payments were made and they equal or exceed the amount determined under any of the three exceptions for the same installment period. Exception A — Prior Year’s Tax — Regular Corporations 23 Prior year’s tax (the return must have been for a full 12 months) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (a) (b) (c) 30% 70% 70% 23 (d) 100% (not less than min.) 24 24 Enter line 23 x the percentage shown. . . . . . . . . . . . . . . . . . . . 25 25 Amount paid by the installment due date (cumulative) . . . . . . 26 If line 25 is greater than line 24, the exception is met. Check “Yes” here and check the applicable “Yes” box in Part ll, line 8a. If line 24 is greater than line 25, the exception is not met. Check “No” here and check the applicable 26 Yes No Yes No Yes No “No” box in Part ll, line 8a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Exception A — Prior Year’s Tax — Large Corporations Use this exception only if prior year tax is less than current year tax. 27 27 Current year’s tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1st Installment 28 a Installment due. Enter line 23 x 30%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28a b Installment due. Enter line 27 x 70%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28b 29 Amount paid by the installment due date (cumulative) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 30 If line 29 is greater than line 28 for both installments, the exception is met. Check “Yes” here for each installment and check the applicable “Yes” box in Part II, line 8b. The exception to the penalty applies only if line 29 is greater than line 28 for both installments. If line 28 is greater than line 29 for either installment, the exception is not met. Check “No” here and check the applicable Yes No “No” box in Part II, line 8b. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 See instructions regarding amounts to use for installment 3 and installment 4. Exception B — Tax on Annualized Current Year Income (a) (b) (c) Enter number of months for each period. See instructions ▶ . . . . 31 Enter taxable income for each annualization period . . . . . . . . . 31 32 Annualization amounts. See instructions . . . . . . . . . . . . . . . . . 32 33 a Annualized taxable income. Multiply line 31 by line 32 . . . . 33a b R&TC Section 23802(e) deduction (S corporations only) . . 33b c Net income. Subtract line 33b from line 33a . . . . . . . . . . . . 33c 34 Tax. Multiply line 33c by the current tax rate . . . . . . . . . . . . . . 34 35 Tax credits for each payment period. . . . . . . . . . . . . . . . . . . . . 35 36 Subtract line 35 from line 34 . . . . . . . . . . . . . . . . . . . . . . . . . . 36 37 Other taxes* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 38 Total tax. Add line 36 and line 37 . . . . . . . . . . . . . . . . . . . . . . . 38 39 Applicable percentage. For short period returns (taxable year of less than 12 months), see the instructions for Part I, line 3. 30% 70% 70% 39 (not less than min.) Yes No 2nd Installment Yes No (d) 100% 40 40 Installment due. Multiply line 38 by line 39 . . . . . . . . . . . . . . . 41 Amount paid by the installment due date (cumulative) . . . . . . 41 42 If line 41 is greater than line 40, the exception is met. Check “Yes” here and check the applicable “Yes” box in Part ll, line 9. If line 40 is greater than line 41, the exception is not met. Check “No” here and check the Yes No Yes No Yes No Yes No 42 applicable “No” box in Part ll, line 9. . . . . . . . . . . . . . . . . . . . . *Include alternative minimum tax, S corporation taxes from Schedule D (100S) and from the excess net passive income, the QSub annual tax, installment amount credit recapture, and the minimum franchise tax. Side 2 FTB 5806 2023 7692233 Part IV Exceptions Worksheets (Continued) Exception C — Tax on Annualized Seasonal Income 43 Enter taxable income for the following periods: a Taxable year beginning in 2020 . . . . . . . . . . . . . . . . . . . . . b Taxable year beginning in 2021 . . . . . . . . . . . . . . . . . . . . . c Taxable year beginning in 2022 . . . . . . . . . . . . . . . . . . . . . 44 Enter taxable income for each period for the taxable year beginning in 2023. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Enter taxable income for the following periods: a Taxable year beginning in 2020 . . . . . . . . . . . . . . . . . . . . . b Taxable year beginning in 2021 . . . . . . . . . . . . . . . . . . . . . c Taxable year beginning in 2022 . . . . . . . . . . . . . . . . . . . . . 46 Divide the amount in each column on line 43a by the amount in column (d) on line 45a . . . . . . . . . . . . . . . . . . . . . . 47 Divide the amount in each column on line 43b by the amount in column (d) on line 45b . . . . . . . . . . . . . . . . . . . . . . 48 Divide the amount in each column on line 43c by the amount in column (d) on line 45c . . . . . . . . . . . . . . . . . . . . . . 49 Add line 46 through line 48 . . . . . . . . . . . . . . . . . . . . . . . . . . . 50 Divide line 49 by 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51 a Divide line 44 by line 50 . . . . . . . . . . . . . . . . . . . . . . . . . . . b R&TC Section 23802(e) deduction. (S corporations only) . c Net income. Subtract line 51b from line 51a . . . . . . . . . . . 52 Tax. Multiply line 51c by the current tax rate . . . . . . . . . . . . . . 53 Divide the amounts in column (a) through column (c) on line 45a by the amount in column (d) on line 45a . . . . . . . . . . 54 Divide the amounts in column (a) through column (c) on line 45b by the amount in column (d) on line 45b . . . . . . . . . . 55 Divide the amounts in column (a) through column (c) on line 45c by the amount in column (d) on line 45c . . . . . . . . . . 56 Add line 53 through line 55 . . . . . . . . . . . . . . . . . . . . . . . . . . . 57 Divide line 56 by 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58 Multiply the amounts in column (a) through column (c) of line 52 by the amounts in the corresponding column of line 57. In column (d), enter the amount from line 52, column (d) . . . . 59 Tax credits for each payment period. . . . . . . . . . . . . . . . . . . . . 60 Subtract line 59 from line 58 . . . . . . . . . . . . . . . . . . . . . . . . . . 61 Other taxes* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (a) 1st 3 months (b) 1st 5 months (c) 1st 8 months (d) 1st 11 months 1st 4 months 1st 6 months 1st 9 months Entire year 1st 4 months 1st 6 months 1st 9 months Entire year 43a 43b 43c 44 45a 45b 45c 46 47 48 49 50 51a 51b 51c 52 53 54 55 56 57 58 59 60 61 (not less than min.) 62 Total tax. Add line 60 and line 61 . . . . . . . . . . . . . . . . . . . . . . . 62 63 Amount paid by the installment due date (cumulative) . . . . . . 63 64 If line 63 is greater than line 62, the exception is met. Check “Yes” here and check the applicable “Yes” box in Part ll, line 10. If line 62 is greater than line 63, the exception is not met. Check “No” here and check the applicable Yes No Yes No Yes No Yes No “No” box in Part ll, line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 Include alternative minimum tax, S corporation taxes from Schedule D (100S) and from the excess net passive income, QSub annual tax, installment amount * credit recapture, and the minimum franchise tax. 7693233 FTB 5806 2023 Side 3
2023 Form 5806 Underpayment of Estimated Tax by Corporations
More about the California Form 5806 Corporate Income Tax Estimated TY 2023
This form helps you estimate any underpayment of taxes from your corporation.
We last updated the Underpayment of Estimated Tax by Corporations in February 2024, so this is the latest version of Form 5806, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 5806 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 5806 from the Franchise Tax Board in February 2024.
Form 5806 is a California Corporate Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
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 5806
We have a total of thirteen past-year versions of Form 5806 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 Form 5806
2023 Form 5806 Underpayment of Estimated Tax by Corporations
2022 Form 5806
2022 California Form 5806 Underpayment of Estimated Tax by Corporations
2021 Form 5806
2021 Form 5806 Underpayment of Estimated Tax by Corporations
2020 Form 5806
2020 Form 5806 Underpayment of Estimated Tax by Corporations
2019 Form 5806
2019 Form 5806 Underpayment of Estimated Tax by Corporations
2018 Form 5806
2018 Form 5806 - Underpayment of Estimated Tax by Corporations
2017 Form 5806
2017 Form 5806 - Underpayment of Estimated Tax by Corporations
2016 Form 5806
2016 Form 5806 - Underpayment of Estimated Tax by Corporations
2015 Form 5806
2015 Form 5806 -- Underpayment of Estimated Tax by Corporations
2014 Form 5806
2014 Form 5806 -- Underpayment of Estimated Tax by Corporations
2013 Form 5806
2013 Form 5806 -- Underpayment of Estimated Tax by Corporations
2012 Form 5806
2012 Form 5806
2011 Form 5806
2011 Form 5806 -- Underpayment of Estimated Tax by Corporations
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