2012 California 540 & 540A Tax Forms – Personal Income Tax
Income Tax Forms
| 540 2EZ Form (Math) | 2012 | California Resident Income Tax Return (Fill-in with math features & save) |
| 540 2EZ Form | 2012 | California Resident Income Tax Return |
| 540 Form | 2012 | California Resident Income Tax Return (Fill-in & Save) |
| 540A Form | 2012 | California Resident Income Tax Return (Fill-in & Save) |
| 540ES Form | 2012 | Estimated Tax for Individuals (Fill-in) |
| 540NR Form (Long) | 2012 | California Nonresident or Part-Year Resident Income Tax Return (Long) (Fill-in & Save) |
| 540NR Form (Short) | 2012 | California Nonresident or Part-Year Resident Income Tax Return (Short) (Fill-in & Save) |
| 540X Form | 2012 | Amended Individual Income Tax Return (Fill-in) |
This calculator does not figure tax for the Form 540 2EZ.
2012 Income Tax News
Tax Rate Increase – For taxable years beginning on or after January 1, 2012, the
maximum personal income tax rate increased to 12.3%.
Qualified Small Business Stock – The California Court of Appeals has determined
that provisions of R&TC Sections 18038.5 and 18152.5 are unconstitutional
and therefore are invalid and unenforceable. See Schedule CA (540), line 13
instructions for more information if you reported a federal qualified small
business stock (QSBS) deferral or exclusion on your federal Form 1040.
Donated Fresh Fruits or Vegetables Credit – For taxable years beginning on
or after January 1, 2012, and before January 1, 2017, qualified taxpayers who
donate fresh fruits or fresh vegetables to a California food bank may receive
a credit equal to 10% of the donation’s costs. For more information get form
FTB 3811, Donated Fresh Fruits or Vegetables Credit or go to ftb.ca.gov and
search for credit for fresh fruits.
Voluntary Contributions – You may contribute to the following new funds:
• California YMCA Youth and Government Fund
• California Youth Leadership Fund
• School Supplies for Homeless Children Fund
• State Parks Protection Fund/Parks Pass Purchase
Community Development Financial Institutions Investment Credit – The
Community Development Financial Institutions Investment Credit has been
extended for taxable years beginning on or after January 1, 2012, and before
January 1, 2017.
Net Operating Loss – For taxable years beginning on or after January 1, 2012,
California has reinstated the NOL carryover deductions.
For taxable years beginning in 2010 and 2011, California suspended the net
operating loss (NOL) carryover deduction. Taxpayers continued to compute and
carryover NOLs during the suspension period. However, taxpayers with modified
adjusted gross income of less than $300,000 or with disaster loss carryovers
were not affected by the NOL suspension rules.
Also, California modified the NOL carryback provision. For more information, see
form FTB 3805V, Net Operating Loss (NOL) Computation and NOL and Disaster
Loss Limitations — Individuals, Estates, and Trusts.
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