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Benjamin Densmore verified

Numerade educator

Which of the following is incorrect regarding the Alternative Minimum Tax for the State? Select one: a. California has just one AMT rate. b. California and federal phase-out rates are conformal. c. California AMT exemption amounts for AMT are not the same as the federal. d. The California AMT exemption is phased-out by a 25 cent reduction per dollar the AMTI exceeds the beginning of the phase-out range.

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Benjamin Densmore verified

Numerade educator

Which form or schedule is used to calculate AMT on the return? Select one: a. Schedule CA b. Form FTB3803 c. Form FTB 3805P d. Schedule P

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Benjamin Densmore verified

Numerade educator

Which code in ca is used for the Joint Custody Head of Household Credit? Select one: a. 170 b. 173 c. 198 d. 187

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Benjamin Densmore verified

Numerade educator

Where is the amount of withholding on real property transactions reported on the Form 540? Select one: a. It's not; It's accounted for with a separate filing requirement with the CDTFA. b. As a credit to carry into the payments section of the Form 540 from line(s) 43-45. c. As income withholding on Line 71 d. As a payment for withholding on Line 73.

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Benjamin Densmore verified

Numerade educator

What conditions apply to being able to claim the Young Child Tax Credit on a California return? Select one: a. The taxpayer must qualify for getting CalEITC on their return. b. The taxpayer must have annual earnings under $30,000. c. The taxpayer must have one or more children under the age of six (6). d. All of the above.

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Benjamin Densmore verified

Numerade educator

Two taxpayers, each with the same number of children and the same type and amount of income, both filing the same filing status, and both residents of California, have one difference: Taxpayer One has children all under the age of six while Taxpayer Two has children all over the age of six and under the age of seventeen. Which of the two is likely due a larger credit value and why? Select one: a. Taxpayer One; The Young Child Tax Credit. b. Taxpayer Two; The older children generate larger credits. c. Neither taxpayer; Both taxpayers should get the same credit value all else being equal. d. None of the above.

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Benjamin Densmore verified

Numerade educator

Taxpayers who operate a business in California can get what license to operate anywhere in the State, no matter where they are located? Select one: a. There isn't a statewide license for operating a business. Local jurisdictions have differing laws on licenses and permits. b. California Secretary of State Operations License c. Secretary of Commerce Seal of Business Intent d. Registration of a Fictitious Name for the Secretary of State

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Benjamin Densmore verified

Numerade educator

Taxpayers who intend on operating a business within the State ca should seek what form of certification before doing so? Select one: a. An employer ID number from the IRS b. Business licensing at the local level, on top of any special licensing due to the nature of the taxpayer's business c. Secretary of Commerce Seal of Business Intent d. Registration of a Fictitious Name for the Secretary of State

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Benjamin Densmore verified

Numerade educator

Residency is considered based largely on facts and circumstances. Which of the following circumstances is the most likely to convince the FTB that a taxpayer should be considered a resident? Select one: a. Days spent working in the state b. Days spent vacationing or engaging in tourist behavior in the state c. Days spent engaging in tourism out of the state d. Intentions towards an apparent domicile and the tendency for a taxpayer to return and reside with family

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Breanna Ollech verified

Numerade educator

Dan and Bailey are joint filers on the Federal return, but wish to file separate California returns. Under which scenario is this possible? Select one: a. If Dan is a nonresident and lacks California-source income b. It is not possible because the filing status for California must be congruent to the status chosen on the Federal return c. This can be done voluntarily without any need for scenario-specific rules d. If Bailey is a nonresident alien, regardless of where she is domiciled.

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