Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In the left column, circle T or F on a true/false question; or insert answer for a fill-in question. T F 1. (LO1) California has

In the left column, circle T or F on a true/false question; or insert answer for a fill-in question.

T F

1. (LO1) California has one of the highest income tax rates in the Nation.

T F

2. (LO1) California collects sales and use tax in addition to personal income tax.

T F

3. (LO2) A taxpayer would file a personal income tax appeal with the California Franchise Tax Board.

Publication _________

4. (LO2) What is the FTB publication number that covers the Guidelines to California adjustments providing the differences between federal and California Law?

T F

5. (Materials list) 540NR Booklet provides information and instructions for California residents who have only been in the state for part of the year.

T F

6. (LO3) Publication 1031 contains guidelines to help determine California residency.

T F

7. (LO3) The factors that determine if a California resident is required to file an income tax return include federal gross income, federal AGI, filing status, age, and number of dependents.

$_________

8. (LO3) Carol and Chet file jointly, are both under age 65, and have one dependent. What is the amount their California gross income needs to exceed to require them to file a return for 2020?

T F

9. (LO3) Chuck is 14 years old, is claimed as a dependent by his parents, and has earned income of $1,090 and interest income of $580. Because his total income is more than the standard deduction, he is required to file a 2020 California income tax return.

$_________

10. (LO3) Carl is age 65 and is filing single with no dependents. What is the amount his California Adjusted Gross Income (AGI) needs to exceed to require Carl to file a return for 2020?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions