With everything going on in the world, your summer may be feeling anything but relaxing. Your organization goes above and beyond for the good of the community, and sometimes that means putting in extra work to remain in good standing with the government. Maintaining tax-exempt status should always be stress free.
Filing your annual Form 990 federal tax returns with the IRS is one of the responsibilities that comes with tax-exempt status, but sometimes there are also obligations on a state level. If your organization is based in California, you need to report to the California Franchise Tax Board (FTB). ExpressTaxExempt now supports Form 199 and offers the best filing solution for California nonprofits.
What is CA Form 199?
Form 199 is the California Exempt Organization Annual Information Return. This form allows your nonprofit to report receipts, revenue, expenses, and disbursements to the FTB. Since Form 199 is a California tax filing requirement, failure to complete this form can cause you to lose exempt status on state taxes.
For more information about California state filing requirements for nonprofits, click here.
Who has to File Form 199?
Form 199 is a requirement in the State of California. Organizations that have been granted tax-exempt status by the FTB, as well as some nonexempt charitable trusts described in IRC Section 4947(a)(1), have to file Form 199.
If you have an accepted 990 return with ExpressTaxExempt, you can now file Form 199 for the State of California. Visit this blog for more information about the Form 990 deadline and avoiding IRS penalties.
When is CA Form 199 due?
The California state filing deadline is coming up!
Usually, the Form 199 deadline is determined by the end of your organization’s tax year. It is calculated by the 15th day of the 5th month after the last day of your tax year. For organizations that use the calendar year, this ends up being May 15.
This year, in acknowledgment of the pressures that COVID-19 has placed on nonprofits and their communities, the Form 199 tax filing and payment deadlines have been extended. The new deadline is July 15, 2020.
Can I get an extension?
The July 15, 2020 deadline is coming up fast, but if you feel like you may need a little more time to get all your organization’s information together, you still have options. The FTB will automatically give you a six-month extension, even if you do not write to request one.
This extra time is an option for you, as long as your nonprofit is in good standing and has not been suspended. Simply complete your Form 199 before the extended deadline, and there will be no negative repercussions for your nonprofit.
Form 199 Instructions
Finding the best e-file provider will make a big difference in the tax filing process for your nonprofit. With ExpressTaxExempt, e-filing CA Form 199 is simple. You can file this state tax return online. Just select your form and then enter your organization’s identification details. You will provide all your receipts, revenues, and expenses. Next, you will be able to answer Schedule questions, fix any errors, review, and transmit your form to the FTB. For more information, visit the State of California’s tax filing instructions.
Our software will review this information before sending it, minimizing your possibility of mistakes. If you run into any questions, our support team is happy to help. To find out more about why e-filing may be the best option for your nonprofit, click here.
For California state filing deadlines, ExpressTaxExempt specializes in keeping your organization healthy and up to speed with the FTB and the IRS.