1117 Form Fillable Request to Terminate Water's-Edge Election
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)

(mm/dd/yyyy) Dividends received during the remaining FRANCHISE TAX BOARD Gains on distribution with respect to stock Gains or losses on the disposition of stock Good cause occurred If the taxpayers request to terminate the PMB first then the box number Example: Print or type name of person to contact Telephone Signature of officer Title Date The expatriate corporation or its subsidiary The taxpayers purpose for requesting The taxpayers request to terminate (mm/dd/yyyy) 111 Main Street PMB 123 2014 Instructions for Form FTB 1117 7191143 84 month election period and taxpayers (the A Purpose A request for consent to terminate an election a request for consent to terminate the a tax return is not valid and will not terminate a A taxpayer must file form FTB 1117 separately addition these sections provide the manner additional information within 90 days Address (suite room or PMB no ) affiliated corporations not included in the affiliated corporations the nature of the event after permission is granted Losses will be all members of the water s edge group making an affiliation change as provided in R&TC as a result of the change in election as provided in R&TC Section 25113(c)(10) B Due Date be allowed only to the extent of dividend because the request will not be timely filed and been paid first out of the earnings and Board s (FTB s) consent The filing of form C Approval and Effective Date c) and California corporation number CALIFORNIA FORM California Revenue and Taxation Code (R&TC) cause Good cause for this purpose City State ZIP Code Code Regs tit 18 section 25113(d)(2) The combined report will be considered to have computing any allowable dividend exclusion consent to terminate the water s edge election Contract Code Section 10286 1(b)(2) and contract with an expatriate corporation Corporation name Corporation name (as shown on original water s edge tax return) Key California corporation number corporations not included in the water s edge D Where to File date including extensions of the tax return for Date sold/disposed of deferred or eliminated Losses from the Do not change the method of filing until the Do not file form FTB 1117 with the tax return E Request to Withdraw Election election is being terminated as a result of Election is required only if the taxpayer Enter the beginning date of the water s edge election: / / Enter the taxable year ending date that the request to terminate the water s edge election will be effective: / / enters into the contract with the state Explain the basis for the request to terminate the water s edge election Attach additional sheets if necessary F Gains and Losses Fill out the form completely Do not change the method of filing until the Franchise Tax Board has approved this request for more information from any other form Form FTB 1117 filed with FTB 1117 FTB 1117 C1 2014 FTB 1117 Instructions 2014 Page 1 FTB 1117 Request to Terminate Water s Edge FTB has approved this request FTB no later than the 120th day prior to the due Gain/loss gains and losses listed in Part IV E&P of General Information giving rise to the request the consequences of has the same meaning as described in I attest to the belief that the water s edge termination is permitted by law and to the accuracy of factual statements If the FTB takes no action or requests no In general requests for consent to terminate In general the request for consent to terminate in which the water s edge election may be Include the PMB in the address field Write included in income in the first tax return filed included only to the extent of gain recognized income or other gain recognized as a result is approved The corporation should generally it is true correct and complete Item disposed of made available upon the FTB s request Mail form FTB 1117 to: may be subject to the following: meet one of the two requirements provided of affiliated corporations not included in of the change in election or assets of an affiliated corporation that or its subsidiary pursuant to Public other disposition of assets received during Part I Effective Dates Part II Basis to Terminate Part II Basis to Terminate Water s Edge Election See Instructions Part III List of Taxpayers Requesting to Terminate Water s Edge Election Attach additional sheets if necessary Part IV Gains and Losses See General Information F Gains and Losses Attach additional sheets if necessary period of the election from affiliated PO BOX 1779 prior to the end of the 84 month election period Private Mail Box (PMB) profits (E&P) not included in the combined provide source documentation to support Provide the explanation for the request for R&TC Section 25113(c)(10)(A) R&TC Section 25113(c)(10)(B) RANCHO CORDOVA CA 95741 1779 reason for the request receive a determination on its termination report of a unitary business for purposes of Request to Terminate Water s Edge Request to Terminate Water s Edge Election request within 45 days after it has filed form requests the FTB s consent to terminate the requirements are: sale or worthlessness of stock or from Section 10286 1(b)(2) taxpayers must Section 25113 and Cal Code Regs tit 18 section 25113 provide how and when the Section 25113(c) (2) See Cal Code Regs tit 18 section 25113(d) Signature Specific Instructions subject to the exclusion such event and other relevant matters must be TAXABLE YEAR taxable year in which: taxpayer filing this form and all members of Taxpayer s name taxpayer s water s edge election taxpayers must demonstrate that they meet terminated with or without the Franchise Tax termination is to permit the state to that is not a dividend or from the sale or the address shown in General Information D The basis for the request must clearly state the The books and records with respect to the the dividends exceed such E&P they may be The FTB s consent is not required if the The FTB will notify the corporation if its request the good cause requirement as described in the remaining period of the election from the request The request must be in writing and mailed to the request) meet one of the following: the requirements of Public Contract Code the sale or other disposition of assets The taxpayer may withdraw its request at any The taxpayer must file form FTB 1117 with the the taxpayers (the taxpayer filing this form and the water s edge combined report will the water s edge combined report will be the water s edge election are effective for the the water s edge election for good the water s edge election will be granted only if the water s edge group making the request) THIS FORM MUST BE FILED SEPARATELY FROM THE TAX RETURN time before the FTB takes action to the election and that was excluded from Treas Reg Section 1 1502 75( Treas Reg Section 1 1502 75(c) Under penalties of perjury I declare that I have examined this form including accompanying schedules and statements and to the best of my knowledge under R&TC Section 25106 To the extent under R&TC Section 25113(c)(10) and Cal Use form FTB 1117 to request the FTB s was included in a combined report prior water s edge combined report will not be Water s Edge Election water s edge election for good cause water s edge election is deemed disallowed water s edge election is to be made In water s edge election prior to the end of the water s edge election so they can meet Where to File which the termination would be effective will be considered invalid