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§ 17053.36-8. Recordkeeping Requirements.

18 CA ADC § 17053.36-8Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 3. Franchise Tax Board
Chapter 2.5. Personal Income Tax (Taxable Years Beginning After 12-31-54) (Refs & Annos)
Subchapter 2. Imposition of Tax
Article 1. Joint Strike Fighter Wage Credit
18 CCR § 17053.36-8
§ 17053.36-8. Recordkeeping Requirements.
Recordkeeping Requirements -- (See Regulation 17053.36-0 for Table of Contents.)
(a) In General. For purposes of Regulations 17053.36-1 through 17053.36-9, inclusive, a qualified taxpayer shall be required to maintain books and records that are adequate to substantiate its entitlement to any claimed JSF Wage Credit. These books and records should be retained for as long as the statute of limitations on assessment for the taxable year for which the JSF Wage Credit was allowed remains open, and, in the case of any JSF Wage Credit that is being carried forward, for the additional number of years that the actual carryforward of such JSF Wage Credit occurs.
(b) Books and Records. The books and records maintained by the qualified taxpayer should be sufficient to clearly establish all necessary facts that affect the allowance and amount of the JSF Wage Credit. For this purpose, “adequate” recordkeeping depends upon the sufficiency of the information contained in the documentation. In many cases, the books and records normally maintained for California income or franchise tax purposes and wage reporting purposes will be adequate substantiation for the JSF Wage Credit.


Note: Authority cited: Section 19503, Revenue and Taxation Code. Reference: Section 17053.36, Revenue and Taxation Code.
1. New section filed 1-23-2003; operative 2-22-2003 (Register 2003, No. 4).
This database is current through 6/7/24 Register 2024, No. 23.
Cal. Admin. Code tit. 18, § 17053.36-8, 18 CA ADC § 17053.36-8
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