California Schedule Qs - Qualified Subchapter S Subsidiary (Qsss) Information Worksheet - 1998
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1INCOME YEAR
Qualified Subchapter S Subsidiary (QSSS)
CALIFORNIA SCHEDULE
1998
Information Worksheet
QS
Part I
Name of parent corporation
California corporation number
Federal employer identification number (FEIN)
Part II
(a)
(b)
(c)
(d)
(e)
(f)
Name of QSSS
California
Federal Employer
Effective Date of
Date of QSSS
Amount of
Corporation
Identification
Federal QSSS
Annual Tax
QSSS Annual
Number
Number
Election
Payment
Tax Paid
(MM/DD/YY)
(MM/DD/YY)
General Information
Specific Instructions
Enter the effective date of the federal QSSS
election made for the subsidiary, in column
Part I
(d). An election made by the parent S corpo-
For income years beginning on or after Janu-
ration under IRC Section 1361(b)(3) to treat a
ary 1, 1997, California law has conformed to
Enter in Part I the name of the parent S cor-
corporation as a qualified subchapter S sub-
the federal treatment of Qualified Subchapter
poration, the S corporation’s California corpo-
S Subsidiaries (QSSS), with certain excep-
sidiary for federal purposes is treated as a
ration number (7 digits) and the Federal
tions. The QSSS is subject to an annual tax
binding election for California purposes. A
Employer Identification Number (FEIN) (9 dig-
of $800 which is paid by the S corporations
separate election cannot be filed for Califor-
its).
parent. See General Information DD, for more
nia. If the effective date falls on a date other
Part II
information.
than the first day of the subsidiary’s income
year, the subsidiary must file a short period
Enter in Part II the information for each QSSS
Purpose
return if it was subject to tax in California prior
required to be included in the California S
to the effective date.
The Qualified Subchapter S Subsidiary Infor-
Corporation Franchise or Income Tax Return.
mation Worksheet is used by the S corpora-
In column (a), enter the name of each QSSS
The S corporation parent is required to pay
tion parent of a QSSS to inform the Franchise
included in this return. If the QSSS has or had
$800 annual tax for each QSSS it owns. The
Tax Board (FTB) of the QSSS(s) it owns. This
a California corporation number, enter the
QSSS annual tax is due and payable when
will notify the FTB that the QSSS items of
number in column (b). If the QSSS has or had
the S corporation’s first estimated tax payment
income, deductions and credits will be
a FEIN, enter the number in column (c). If the
is due. If the QSSS is acquired during the
included in the parent’s return and the QSSS
corporation does not have a California corpo-
income year, the QSSS annual tax is due with
will not be filing a separate California fran-
ration number and/or a FEIN, enter ‘‘none.’’
the S corporation’s next estimated tax install-
chise or income tax return.
ment. Enter the date of payment in column (e)
and amount of QSSS annual tax paid in
column (f).
QS98109
Schedule QS 1998
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