Multistate Audit Procedures Manual

CALIFORNIA FRANCHISE TAX BOARD Internal Procedures Manual Page 1 of 19Multistate Audit Procedures Manual 13000 WATER'S-EDGE MAPM 13010 Water's-Edge - General MAPM 13020 Procedures For Processing Water's-Edge Contracts - Introduction MAPM 13030 Processing Problems MAPM 13040 Terms/Abbreviations MAPM 13050 Water's-Edge - First Year Elections, Contract Attached MAPM 13060 Water's-Edge - First Year Elections, Contract Not Attached MAPM 13070 Reporting - Water's-Edge Election Pre-1994 MAPM 13090 Water's-Edge - Foreign Parent List MAPM 13100 Water's-Edge - Box Checker Returns - Background MAPM 13110 Support Staff - Processing Water's-Edge First-Year Returns MAPM 13120 Completion Of Forms - Cancellation Of Water's-Edge Penalties MAPM 13130 Water's-Edge Failure To Furnish Information Penalty The information provided in the Franchise Tax Board's internal procedure manuals does not reflect changes in law, regulations, notices, decisions, or administrative procedures that may have been adopted since the manual was last updated. CALIFORNIA FRANCHISE TAX BOARD Internal Procedures Manual Page 2 of 19Multistate Audit Procedures Manual 13010 WATER'S-EDGE - GENERAL For taxable years beginning on or after January 1, 1988, taxpayers may elect to file on a water's-edge basis. Under a water's-edge election, affiliated foreign corporations are generally excluded from the combined report. However, the election does not supersede the concept of ...