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To be commercially domiciled in this state generally means that this state is the principal place from which the trade or business of the entity is directed or managed. The entity is organized or commercially domiciled in this state.The entity is actively engaging in any transaction for the purpose of financial gain or profit.We require your California tax year to be the same as your federal tax year, unless we initiated or approved a different accounting period.ĭoing business - Beginning with the 2011 tax year, a business is considered to be doing business in California during the year if it meets one of these tests: Tax year - Calendar, fiscal, or short-period year used by the corporation to compute their net income. Contact the California Secretary of State (SOS) to incorporate or qualify your business at 91, or go to sos.ca.gov.Ĭalendar year - An accounting period of 12 months or less ending on the last day of December.įiscal year - An accounting period of 12 months or less ending on the last day of any month other than December.Īccounting period - Calendar, fiscal, or short-period year used by the corporation to compute their net income.

It can make contracts, pay taxes, and is liable for debts. DefinitionsĬorporation - A legal entity that exists separately from the people who own, manage, control, and operate it. Water’s-Edge Filers - For information regarding filing a Water’s-Edge tax return in California, refer to Form 100W, California Corporation Franchise or Income Tax Return - Water’s‑Edge Filers.