Instructions for Form FTB3593 Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback - California

This document contains official instructions for Form FTB3593 , Extension of Time for Payment of Taxes by a Corporation Expecting a Net Operating Loss Carryback - a form released and collected by the California Franchise Tax Board.

FAQ

Q: What is Form FTB3593?
A: Form FTB3593 is a form used in California for corporations expecting a net operating loss carryback.

Q: What is the purpose of Form FTB3593?
A: The purpose of Form FTB3593 is to request an extension of time for payment of taxes by a corporation expecting a net operating loss carryback.

Q: Who should file Form FTB3593?
A: Corporations in California expecting a net operating loss carryback should file Form FTB3593.

Q: What does a net operating loss carryback mean?
A: A net operating loss carryback is when a corporation applies a current year net operating loss to a prior year tax liability, resulting in a refund or credit for taxes paid in the prior year.

Q: Why would a corporation need an extension of time to pay taxes?
A: A corporation may need an extension of time to pay taxes if they are expecting a net operating loss carryback and need additional time to calculate and file their tax return.

Q: How can a corporation request an extension of time to pay taxes?
A: A corporation can request an extension of time to pay taxes by filing Form FTB3593 with the California Franchise Tax Board.

Q: What is the deadline for filing Form FTB3593?
A: The deadline for filing Form FTB3593 is the same as the corporation's tax return due date, including any extensions.

Q: Are there any penalties for late payment of taxes?
A: Yes, there may be penalties for late payment of taxes. It is important for corporations to file Form FTB3593 and pay their taxes by the deadline to avoid penalties.

Q: Is Form FTB3593 only applicable to corporations in California?
A: Yes, Form FTB3593 is specifically for corporations in California.