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Example: In 2000, David's Toy, Inc., a Nevada S corporation, opens an office in California. Since the S corporation is doing business in both Nevada and California, it must file Form 100S (California S Corporation Franchise or Income Tax Return) and use Schedule R to apportion income between the two states.
Yes, California has adopted most of the federal provisions for. S corporations. However, if you are a federal S corporation. doing business in California or having California source. income, you are subject to the franchise or income tax at the. corporate level in addition to the shareholder tax on the pass-. through income.