Accounting Method - CA nonconformity - Spidell

Accounting Method – CA nonconformity

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Message Board Accounting Method – CA nonconformity

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 1 week, 3 days ago.

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  • #170852
    Cuc Huynh
    Participant

    Federal increases average of gross receipts to $25 million for small business corporation that can use the cash method of accounting. How about California? Can C-corporation continues to use the cash method if its average of gross receipts increase to 10 million in 2018?

    Thanks for your prompt answer.

    C. Huynh

  • #170950
    Lynn Freer
    Participant

    CA just conformed: retroactive to 2018. You make an election on the CA return to use federal method for this year. We don’t have exact guidance from the FTB yet, but it would seem that if you haven’t filed yet, you would just use the federal method for 2018