The California Form 590-P serves as a Nonresident Withholding Exemption Certificate for Previously Reported Income. This form is essential for domestic nonresident shareholders, partners, or members of S corporations, partnerships, or limited liability companies (LLCs) who wish to certify that their income has already been reported on their California tax return. By completing this form, you can ensure that no withholding is required on current year distributions of prior year income.
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The California Form 590 P, known as the Nonresident Withholding Exemption Certificate for Previously Reported Income, plays a crucial role for nonresident shareholders, partners, or members of S corporations, partnerships, and limited liability companies (LLCs). This form allows individuals to certify that they have already reported certain income on their California tax returns, thus exempting them from additional withholding on distributions of prior year income. It is important for those who qualify to submit this form to their respective entities, as it relieves these entities from the obligation to withhold taxes on the reported income. The form requires specific information, including the name and address of the individual, the entity type, and the relevant tax identification numbers. Furthermore, it emphasizes that only domestic nonresidents can use it, excluding foreign partners or members. Understanding the requirements and implications of Form 590 P is essential for ensuring compliance with California tax regulations while maximizing tax efficiency for nonresident stakeholders.
YEAR
Nonresident Withholding Exemption Certificate
CALIFORNIA FORM
590-P
for Previously Reported Income
Keep this form with your S corporation, partnership, or limited liability company (LLC) for their records.
Name of S corporation shareholder, partner, or member
Address (number and street, PO Box, or PMB no.)
Apt. no./Ste. no.
City
State
ZIP Code
-
Entity type: Individual, Corporation, Estate or Trust, LLC, or Partnership
m SSN or ITIN m CA corp. no. m FEIN
mSOS file no.
To ______________________________________________________
(Withholding agent, S corporation, partnership, or LLC)
Certiicate of previously reported income
This exemption form is for current or prior year’s income that has been reported on the pass-through entity’s California income tax return.
Under penalties of perjury, I hereby certify that the California source income from the above-named S corporation, partnership, or LLC, (as shown on Schedules K-1 (100S, 565, or 568), or other documents provided by the S corporation, partnership, or LLC) for the year(s) ___________________ has already
been reported as California source income on the above-named S corporation shareholder’s, partner’s, or member’s California income tax return for taxable year(s) ____________________ and that no withholding is required. (The S corporation shareholder, partner, or member must have iled a California income tax
return prior to signing this certiicate.)
Name and title (type or print) _____________________________________________________________ Daytime telephone no. (____)__________________
Signature __________________________________________________________________________________________ Date ______________________
For Privacy Notice, get form FTB 1131.
General Information
References in these instructions are to the California Revenue and Taxation Code (R&TC).
Backup Withholding – Beginning on or after January 1, 2010, with certain limited exceptions, payers that are required to withhold and remit backup withholding to the Internal Revenue Service (IRS) are also required to withhold and remit
to the Franchise Tax Board (FTB). The California backup withholding rate is 7% of the payment. For California purposes, dividends, interests, and any inancial institutions release of loan funds made in the normal course of business are exempt from backup withholding. For additional information on California backup withholding, go to ftb.ca.gov and search for backup withholding.
Private Mail Box (PMB) – Include the PMB in the address ield. Write “PMB” irst, then the box number. Example: 111 Main Street PMB 123.
Foreign Address – Enter the information in the following order: City, Country, Province/Region, and Postal Code. Follow the country’s practice for entering the postal code. Do not abbreviate the country’s name.
A Purpose
Use Form 590-P, Nonresident Withholding Exemption Certiicate for Previously Reported Income, to certify an exemption from withholding on current year distributions of an S corporation’s, partnership’s, or LLC’s prior year income if you are a domestic (nonforeign) nonresident S corporation shareholder, partner, or member. Foreign (non-U.S.) partners or members cannot use this form. If you have already reported the income represented by this distribution on your California tax return as income from California sources, ile Form 590-P with the S corporation, partnership, or LLC.
The S corporation, partnership, or LLC will be relieved of the withholding requirements for your share of this distribution when relying in good faith on a completed and signed Form 590-P.
Do not use Form 590-P if you are one of the following:
•A foreign (non-U.S.) partner or member. There is no provision under R&TC Section 18666 to allow an exemption from withholding for a foreign partner or member.
•An S corporation shareholder, partner, or member who is a resident of California or an S corporation shareholder, partner, or member who has a permanent place of business in California. Instead use Form 590, Withholding Exemption Certiicate.
•Your income is not yet reported on your California tax return.
Get Form 588, Nonresident Withholding Waiver Request, to request a waiver of withholding on payments of current year California source income.
B Requirement
R&TC Section 18662 and related regulations require withholding of income or franchise tax by S corporations, partnerships, or LLCs when distributions of money or property that represent California source income are made to S corporation shareholders, partners, or members that are nonresidents of California.
Distributions subject to withholding include, but are not limited to, distributions that represent current year’s income or prior year’s income that should have been, but was not previously reported as income from California sources on the S corporation’s, partner’s, or member’s California income tax return. However, no withholding is required if the total distributions of California source income to the S corporation shareholder, partner, or member are $1,500 or less during the calendar year. For more information on S corporation, partnership, or
LLC withholding, get FTB Pub. 1017, Resident and Nonresident Withholding Guidelines.
Specific Instructions
S Corporations, Partnerships, or LLCs. Do not send this form to the FTB. The withholding agent retains this form for a minimum of four years and must provide it to the FTB upon request. This form may be completed for each distribution of prior year’s income or it may be completed by the S corporation shareholders, partners, or members annually. For more information, call:
Telephone: 888.792.4900 916.845.4900
Fax:916.845.9512
OR write to:
WITHHOLDING SERVICES AND COMPLIANCE MS F182 FRANCHISE TAX BOARD
PO BOX 942867 SACRAMENTO CA 94267-0651
You can download, view, and print California tax forms and publications at ftb.ca.gov.
For all other questions unrelated to withholding or to access the TTY/TDD numbers, see the information below.
Internet and Telephone Assistance
Website:
ftb.ca.gov
Telephone:
800.852.5711 from within the United States
916.845.6500 from outside the United States
TTY/TDD:
800.822.6268 for persons with hearing or speech impairments
Asistencia Por Internet y Teléfono
Sitio web:
Teléfono:
800.852.5711 dentro de los Estados Unidos
916.845.6500 fuera de los Estados Unidos
800.822.6268 personas con discapacidades auditivas y del habla
7071113
Form 590-P C2 2011
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