Question21

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Which of the following statements regarding theCalifornia Competes Tax Creditis true?

Select one:

a.The credit is refundable.

b.The credit can be carry forward for ten years

c.Tax credit agreements will be negotiated by GO-Biz but Go-Biz does not have the authority to review certain businesses books and records.

d.If agreed upon milestones for a taxable year are not met, the credit is not earned for that taxable year.

e.All of the above statements are true.

Question22

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Which of the following statements is true concerning the California state personal tax return?

Select one:

a.It is not possible to itemize your deductions on your California state return if you have taken the standard deduction on your federal return.

b.It is possible to itemize your deductions on your California state return even though you may have taken the standard deduction on your federal return.

c.It is possible to itemize your deductions on your California state return only if you have itemized deductions on your federal return.

d.It is not possible to take a standard deduction on your California state return even though you may have taken the standard deduction on your federal return.

Question23

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Concerning taxable pensions, which of the following statements is false?

Select one:

a.Generally, you will not make any special tax adjustments to taxable pensions.

b.California residents generally pay state income tax on all taxable pensions earned as a California resident.

c.California residents generally pay state income tax on taxable pensions that were earned in another state..

d.California residents do not pay state income tax on taxable pensions that were earned in another country.

Question24

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When completing Schedule CA (540), Part II (Adjustments to Federal Itemized Deductions) and figuring the total California income tax withheld, remember to include any ___________that were withheld during the year.

Select one:

a.California local taxes

b.Social Security taxes

c.Federal payroll taxes

d.All of the above

Question25

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Which of the following California tax credits are refundable tax credits?

Select one:

a.Dependent Parent Credit

b.Child and Dependent Care Credit

c.Renter's Credit

d.None of the above are refundable credits