Santa Maria California Form 940 (Schedule A) 2024-2025

Santa Maria California Form 940 (Schedule A): What You Should Know

If your state rate is lower than the FTA tax rate (in which case you will not need to file Schedule A), enter “X” in the box for your state's rate when calculating your FTA tax. If your state rate is higher than the FTA tax rate, enter “-X” for the FTA tax rate when calculating your FTA tax. Example: If your state's rate is zero, enter “-1” in the “State Wage Inflation Credit,” “X” in the “Inflation Rate,” and “-1” in the “FTA Tax” boxes. Schedule A (Form 940) | Credit Reduction Information for 2023 Aug 24, 2025 — To calculate your FTA tax rate, complete Schedule A (Form 940). Schedule A is a worksheet that lists the applicable tax rates in each state. If your state rate is lower than the FTA tax rate (in which case you will not need to file Schedule A), enter “X” in the box for your state's rate when calculating your FTA tax. If your state rate is greater than the FTA tax rate, enter “-X” for the FTA tax rate when calculating your FTA tax. Example: If your state's rate is zero, enter “-1” in the state “State Wage Inflation Credit,” “X” in the state “Inflation Rate,” and “-1” in the “FTA Tax” boxes. FTA Credit Reduction Rates for California's Tax on Gasoline Fuel | Cal. Govt. Code § 135001.5 For those California taxpayers with income tax obligations for all federal, state and local tax purposes (FICA and FTA taxes), only California's 2.3% gas excise tax rate applies. This rate is calculated according to your total income in the current calendar year in which each tax year ends, determined in accordance with Cal. Rev. Tax Code § 135001.3. If you are not subject to state or local income tax obligations, you must file an optional extension of time to file your returns. Visit the IRS website for details on obtaining an optional extension. You can use the table below as a guide.

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