Fill in Your California 100 We Template

The California 100 We form is an essential document for corporations electing to file on a water’s-edge basis, a method that allows companies to limit their taxable income to only that earned within the United States. This election is made in accordance with specific sections of the Revenue and Taxation Code, particularly Sections 25110 and 25113. By completing this form, a corporation can formally declare its intent to be included in a water’s-edge combined report, which can provide significant tax advantages. It is crucial to include the corporation's name, California corporation number, and address, as well as the details of any common parent making the election on behalf of a controlled group. The election begins on the first day of the taxable year and remains effective for a total of 84 months unless terminated earlier. Proper documentation is vital, as the form must be attached to either Form 100W or Form 100S, and a signed copy should be retained for the corporation's records. The process involves listing all corporations covered by the election, ensuring compliance with guidelines set forth by the California Franchise Tax Board. This form is not just a requirement; it is a strategic tool that can influence a corporation’s tax obligations significantly.