ACCT 104 - CA

California tax law provides that an individual, who spends in the aggregate more than how many months of the taxable year in California, is presumed to be a resident?

Nine Month

Jane is a widow with $80,000 in California AGI. Her Renter's Credit is;

Not available

Which of the following are NOT a filing status for California?

Single Parent

Fill in the blank: Jonas and Beverly are married filing jointly. They have $30,000 of California adjusted gross income. What deduction (line 18) can they take to calculate taxable income?

Standard or Itemized Deduction

California return may be filed electronically and is the fastest option to get a refund.

TRUE

Earl is 70 year old, single taxpayer with no dependents in Riverside CA. He may claim 2 exemption credits.

TRUE

Lucy is not a California resident but has California Income. She needs to file a California return.

TRUE

The California tax formula begins with the Federal AGI

TRUE

Tim and Tina file married joint with no dependents. They are Arizona residents. They are a computer consulting team whose Federal AGI was $84,500 with no state adjustments. Half of their AGI resulted from work for clients based in California. What are the California income tax implications for Tim and Tina:

They must pay California tax on their California source income

All of the following tax items are treated the same for California tax purposes as for Federal tax purposes except for:

Unemployment Compensation

A taxpayer is required to remit all of his or her payments electronically if he or she makes an estimate or extension payment exceeding what amount?

$20,000

Hal files single. His Federal AGI is $43,906 which includes $2,506 of Unemployment Compensation. What is his California Adjusted Gross Income (Line 17)?

$41,400

Ramon is head of household taxpayer, with one daughter named Molly & $59,857 of California adjusted gross income. He had no adjustments ($0 in lines 14 & 16). His taxable income (Line 19) would be:

$59,857 less standard deduction

You must submit a POA (Power Of Attorney) if a taxpayer wants a tax professional authorized to receive confidential tax information or to represent him or her before the FTB. A POA must be on file with the FTB before a representative can:

All of the above.

California residents have the choice of filing a Form 540 or a Form 540A only.

FALSE

Regarding the California Earned Income Tax Credit (CA EITC), prior to Jan 01, 2017, earned income used to qualify for the credit includes all of the following except.

Income from self-employment

All of the following authorities are California tax authorities except for:

Internal Revenue Service

Justin is a business executive and resides in Washington with his family. Several times each year, he travels to other states for business purposes. His average stay is one or two weeks, and the entire time spent in California for any taxable year does not exceed six weeks. Justin's family usually remains in Washington while he is traveling for business purposes. Which of the following statements applies to Justin?

Justin is not a California resident because his stays in California are temporary or transitory in nature

Darren is single, 24 years old and has California adjusted gross income of $28,500 (line 17 on Form 540). His exemption credit would be found on

Line 7