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FTB 3805Z 2011 Side 1 For Privacy Notice, get form FTB 1131. Enterprise Zone Deduction and Credit Summary TAXABLE YEAR 2011 CALIFORNIA FORM 3805Z A. Check the appropriate box for your entity type: Individual Estate Trust C corporation S corporation Partnership Exempt organization Limited liability company Limited liability partnership B. Enter the name of the Enterprise Zone (EZ) C. Enter the address (actual location) where the EZ business is conducted: _ D. Enter the name of the EZ in which the business and/or investment activity is located. _ E. Enter the six-digit Principal Business Activity Code of the EZ Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the six-digit Principal Business Activity Code from the chart. For the Long Beach EZ, enter the four-digit Standard Industrial Classification (SIC) code number from the chart. F. Total number of employees in the EZ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G. Number of employees included in the computation of the hiring credit, if claimed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . H. Number of new employees included in the computation of the hiring credit, if claimed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . I. Gross annual receipts of the business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . J. Total asset value of the business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part I Credits and Recapture (Complete Schedule Z on Side 2 before you complete this part.) 1 Hiring and sales or use tax credits claimed on the current year return: a Hiring credit from Schedule Z, line 8A, column or line 10, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Hiring credit recapture from Worksheet IA, Section B, line 2, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Sales or use tax credit from Schedule Z, line 9A, column or line 11, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Add line 1a and line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part II Business Expense Deduction and Recapture 2 a Enter the cost of qualified property purchased for the EZ that is being deducted as a current year business expense from Worksheet II, Section A, line 5, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ELECTION: The act of deducting a portion of the cost of any property as a current year expense rather than adding it to the capital account constitutes an election to treat that property in accordance with R&TC Sections 17267.2 or 24356.7. That election may not be revoked except with the written consent of the Franchise Tax Board (FTB). b Business expense deduction recapture from Worksheet II, Section B, line 2, column . . . . . . . . . . . . . . . . . . . . . . . . . . . Part III Net Interest Deduction for Lenders 3 Enter the amount of net interest received on loans to businesses located in the EZ from Worksheet III, line 2, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Part IV Portion of Business Attributable to the Enterprise Zone 4 Enter the average apportionment percentage of your business that is in the EZ from Worksheet IV, Section A, line 4. If your operation is wholly within the EZ, the average apportionment percentage is 100% (1.00) . . . . . . . . . . . . . . . . . . . 4 Part V Net Operating Loss (NOL) Carryover and Deduction 5 a Enter the EZ NOL carryover from prior years from Worksheet V, Section C, line 29, column . . . . . . . . . . . . . . . . . . . . . . 5a b Enter the total EZ NOL deduction used in the current year from Worksheet V, Section C, line 29, column Enter this amount on Schedule CA (540 or 540NR), line 21e, column B; Form 100, line 21; Form 100W, line 21; Form 100S, line 19; or Form 109, line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Enter the EZ NOL carryover to future years from Worksheet V, Section C, line 29, column . . . . . . . . . . . . . . . . . . . . . . . ELECTION: For those taxpayers eligible for an NOL carryover under R&TC Sections 17276.2, 17276.4, 17276.5, 17276.6, 24416.2, 24416.4, 24416.5, or 24416.6, the act of claiming an NOL carryover on this form constitutes the irrevocable election to apply the loss under R&TC Sections 17276.2 or 24416.2, for taxpayers operating a trade or business within the EZ. If you elect to carry over an NOL under the EZ provisions, you cannot carry over any other type and amount of NOL from this year. SSN or ITIN or California corporation number Name(s) as shown on return FEIN Attach to your California tax return. Secretary of State (SOS) file number 7541113 ---PAGE BREAK--- Side 2 FTB 3805Z 2011 Part II Limitation of Credits for Corporations, Individuals, Estates, and Trusts. See instructions. Credit name Credit amount Total prior year carryover Total credit assigned from form FTB 3544 col. Total credit sum of col. plus col. minus col. Limitation based on EZ business income Credit used on Sch. P Can never be greater than col. or col. Total credit carryover col. minus col. 8 Hiring credit A B 9 Sales or use tax credit A B Part III Limitation of Credits for S corporations Only. See instructions. Credit Credit S corporation Total Total credit Credit used Carryover name amount credit col. prior year col. this year by col. minus multiplied by 1/3 carryover plus col. S corporation col. 10 Hiring credit 11 Sales or use tax credit Part IV Limitation of Credits for Corporations and S Corporations Subject to Paying Only the Minimum Franchise Tax. See instructions. Credit name Credit amount Total prior year carryover Total credit assigned from form FTB 3544 col. Total credit carryover sum of col. plus col. minus col. 12 Hiring credit 13 Sales or use tax credit Refer to page 4 for information on how to claim deductions and credits. Schedule Z Computation of Credit Limitations – Enterprise Zones Part I Computation of Credit Limitations. See instructions. 1 Trade or business income. Individuals: Enter the amount from the Worksheet IV, Section C, line 14, column on this line and on line 3 (skip line See instructions. Corporations filing a combined report, enter the taxpayer’s business income apportioned to California. See instructions for Part IV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 2 Corporations: Enter the average apportionment percentage from Worksheet IV, Section A, line 4. See instructions . . . . . . . . 2 3 Multiply line 1 by line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 4 Enter the EZ NOL deduction from Worksheet V, Section C, line 29, column . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 EZ taxable income. Subtract line 4 from line 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 a Compute the amount of tax due using the amount on line 5. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6a b Enter the amount of tax from Form 540, line 35; Long Form 540NR, line 42; Form 541, line 21; Form 100, line 24; Form 100W, line 24; Form 100S, line 22; or Form 109, line10. Corporations and S corporations, see instructions . . . . . . . . . . . . 6b 7 Enter the smaller of line 6a or line 6b. This is the limitation based on the EZ business income. Go to Part II, Part III, or Part IV. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 7542113