California FTB Releases Income Tax Form 592-V, Payment 2025

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  1. Click ‘Get Form’ to open the California FTB Releases Income Tax Form 592-V in the editor.
  2. Begin by entering the withholding agent’s business or individual name, address, taxpayer identification number, and telephone number in the designated fields. Use black or blue ink and print all names in CAPITAL LETTERS.
  3. Indicate whether you are submitting Form 592 electronically or by paper by checking the appropriate box. Ensure only one box is checked.
  4. Enter the total number of payees reported on Form 592 in the specified field.
  5. Check all applicable boxes for the type of income withheld during the period. This includes options like payments to independent contractors, trust distributions, and more.
  6. Make your payment by check or money order payable to 'Franchise Tax Board.' Write your identification number and '2024 Form 592-V' on it.
  7. Detach the payment voucher from the bottom of the form and mail it along with Form 592 to the appropriate address based on your submission method.

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Domestic nonresident partners are calculated a withholding tax of 7.0% of distributions, corporations have a 8.84% withholding rate, and nonresident foreign partners calculate a withholding tax of 12.3% of income.
Payment Voucher for Resident or Nonresident Withholding Use Form 592-V to remit backup withholding payments. Backup withholding supersedes all types of withholding. For more information on backup withholding, go to ftb.ca.gov and search for backup withholding.
Tax withheld on California source income is reported to the Franchise Tax Board (FTB) using Form 592, Resident and Nonresident Withholding Statement.
To pay the withholding tax to the state of California, you must complete Form 592. Go to. File. , then. Client Properties. . Select the. California. tab. Select the option. 592 withholding. . The system completes all necessary forms for domestic partners and calculates the total tax due.
FTB Form 592-Q is largely based off of the FTB Form 592-V, with the primary difference being that FTB Form 592-V is used as a voucher for payments with respect to nonresident withholding, whereas FTB Form 592-Q is used as a voucher for domestic PTE withholding.

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A seller/transferor that qualifies for a full, partial, or no withholding exemption must file Form 593. Any remitter (individual, business entity, trust, estate, or REEP) who withheld on the sale/transfer of California real property must file Form 593 to report the amount withheld.
Send any payment due with Forms 592 and 592-V to: WITHHOLDING SERVICES AND COMPLIANCE FRANCHISE TAX BOARD PO BOX 942867 SACRAMENTO CA 94267-0651 0-Day Notification Federal law requires that payees be notified within 10 days of the periodic installment payment date regarding any tax withheld.

2024 form 592 v