CA Corp filing

misc.taxes.moderated is a good place to ask.

Don

On Wed, 15 Oct 2003 15:14:53 -0700, Craig Prouse
wrote:

Robert M. Gary wrote:

I have my airplane registered in a "Mutual Benefit Corp" in the state
of California. Every year I get a nastygram from the state saying I
need to fill out some soft of tax return. They also say I'll have to
pay a percentage fine for being late (which I assume is zero since the
corp doesn't make any money, its just a holding corp for me). If
anyone else uses this set up, what FTB form to you submit?

What is a "mutual benefit corp"? My knowledge of CA corporate taxes is
limited to my qualifications as the treasurer of a small nonprofit corp, but
my understanding is similar to Casey's. If you're not a qualified
nonprofit, you are generally subject to an annual franchise tax in addition
to the tax on your operational income.

If you're required to file, FTB 100 is the usual form.
Forms and info he

http://www.ftb.ca.gov/