Get the up-to-date 2016 Form 593-V -- Payment Voucher for Real Estate Withholding - ftb ca-2024 now

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under which circumstance may withholding be required of the buyer Preview on Page 1

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Payments subject to withholding include: Payments to nonresident independent contractors who provide services in California. Other non-wage payments of California source income to nonresidents such as leases, rents, royalties, winnings and payouts.
Yes. The seller will be required to complete and sign, under penalty of perjury, Franchise Tax Board form 593C. If the seller is claiming a loss, the seller will also be required to complete Franchise Tax Board form 593E.
If your small business has employees working in California, you'll need to withhold and pay California income tax on their salaries. This is in addition to having to withhold federal income tax for those same employees. Here are the basic rules on California state income tax withholding for employees.
You qualify for a withholding exemption if you last used the property as your principal residence without regard to the two-year time period (for withholding purposes only). If the sale does not qualify for a principal residence exemption, report the gain on your federal and California income tax returns.
To be exempt from withholding, both of the following must be true: You owed no federal income tax in the prior tax year, and. You expect to owe no federal income tax in the current tax year.

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Withholding is required on sales or transfers of California real property when the total sale price exceeds $100,000 and does not qualify for an exemption on FTB Form 593-C (see Part III Exemptions).
California law requires withholding when a person (an individual, business entity, trust, or estate) sells California real property unless the seller qualifies for an exemption.
Purpose. Use Form 593: Certify the seller/transferor qualifies for a full, partial, or no withholding exemption. Estimate the amount of the seller's/transferor's loss or zero gain for withholding purposes and to calculate an alternative withholding calculation amount.
Payments subject to withholding include: Payments to nonresident independent contractors who provide services in California. Other non-wage payments of California source income to nonresidents such as leases, rents, royalties, winnings and payouts.
Selling expenses include commissions, advertising fees, legal fees, and loan charges that will be paid by the seller/transferor, such as loan placement fees or points.

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