In its November 2021 issue of tax news, the California Franchise Tax Board (FTB) provides information on a variety of corporate and personal income tax issues, including the following:

  • Guidance on submitting Form 592, Resident and Nonresident Withholding Statement or Form 592-E, Pass-Through Entity Annual Withholding Return.

  • Information about CalSavers as the applicable law requires eligible employers that do not offer an employer sponsored retirement plan and have at least five employees to register for CalSavers and make the program available to their employees.

  • Franchise Tax Board stakeholder meetings scheduled on November 17, 2021 virtually through WebEx from 1 PM to 3 PM.

  • Exempt organizations that follow a calendar year-end should plan to file Form 199 or FTB 199N by November 15 to avoid late fees and penalties.

  • To claim the “2021 Main Street Small Business Hiring Tax Credit II”, taxpayers must obtain a tentative credit reservation between November 1, and November 30, 2021.

Tax News November 2021, California Franchise Tax Board, November 2021