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The accounting entry for California franchise tax typically involves debiting the franchise tax expense account and crediting the cash or Accounts Payable account, depending on whether the tax is paid immediately or recorded as a liability. For example, if you are paying the tax of $1,000, the entry would be: Debit Franchise Tax Expense $1,000 and Credit Cash $1,000. If the tax is recorded as a liability instead, you would credit Accounts Payable instead of Cash.
What else can I help you with?
When was California Franchise Tax Board created?
California Franchise Tax Board was created in 1950.
What is the accounting entry for the Provision of Income Tax?
dr. income tax expense cr. income tax payable
What can one find on the California franchise tax board website?
The California Franchise Tax Board website contains information relating to personal and corporate income tax in California. It offers filing information, tax rates, the ability to pay online, tax calculators and the ability to download various tax forms.
Can the California franchise tax board garnish your ssi?
no they cannot
What is the accounting entry for Income Tax?
Account entry for income tax is a tax that you have to pay when you go in a store or a restaurant in Canada. http://chinese.com/ = this is the website where can you check the answer to make sure
Who do you make a check out for your state taxes in California?
"Franchise tax board"
What are the entry level jobs in accounting?
There are a lot of area that you can look for work when you are doing a search for accounting jobs. You will want to search; accounting, entry-level, finance, tax, marketing, business and different sections like that.
What is the proper tax refund accounting entry to record the return of excess taxes paid by a company?
The proper tax refund accounting entry to record the return of excess taxes paid by a company is to debit the cash account for the amount of the refund received and credit the income tax expense account to reduce the tax expense recorded.
What is the California tax address for filing state taxes?
The California tax address for filing state taxes is Franchise Tax Board, PO Box 942840, Sacramento, CA 94240-0040.
Who do I write my CA state tax check to?
You should write your California state tax check to the "Franchise Tax Board" or "California Franchise Tax Board." Make sure to include your name, address, and Social Security number or taxpayer ID on the check, as well as any relevant tax year or form number in the memo line for proper processing.
Does the entry to record weekly payroll tax liabilities reduce assets and equity portions of the accounting equation?
yes
What is the mailing address for the 1099 misc copy 1 for CA state?
The mailing address for submitting Copy 1 of the 1099-MISC form to the California Franchise Tax Board is: Franchise Tax Board PO Box 942840 Sacramento, CA 94240-0040 Always ensure to check the latest guidelines from the California Franchise Tax Board for any updates or changes.
