Ftb Publication 1023s - Resident and Nonresident Withholding Electronic Submission Requirements - California

Ftb Publication 1023s - Resident and Nonresident Withholding Electronic Submission Requirements is a legal document that was released by the California Franchise Tax Board - a government authority operating within California.

FAQ

Q: What is FTB Publication 1023S?
A: FTB Publication 1023S is a document that provides information on resident and nonresident withholding electronic submission requirements in California.

Q: Who is required to submit FTB Publication 1023S?
A: Any individual or entity that is required to withhold California income tax from payments made to nonresident independent contractors or payees.

Q: What are the electronic submission requirements for withholding?
A: Electronic submission of Form 592 or Form 592-B is required if you have 100 or more payees in a calendar year or if the total amount withheld is $50,000 or more.

Q: What forms need to be submitted electronically?
A: Form 592, Resident and Nonresident Withholding Statement, and Form 592-B, Nonresident Withholding Tax Statement, need to be submitted electronically.

Q: Can forms be submitted on paper instead of electronically?
A: No, if you meet the electronic submission requirements, you must submit these forms electronically.

Q: Is there a penalty for not complying with the electronic submission requirements?
A: Yes, there may be penalties for failing to comply with the electronic submission requirements, including a penalty of $50 per information return not filed electronically.