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The real estate withholding amount for California generate when withholding information are entered in the California Form 592-B/Form 593.

Who Must File. A seller/transferor that qualifies for a full, partial, or no withholding exemption must file Form 593. Any remitter (individual, business entity, trust, estate, or REEP) who withheld on the sale/transfer of California real property must file Form 593 to report the amount withheld.

For the purpose of this form, a PTE is an entity that has paid withholding on behalf of a nonresident owner or has had its income withheld upon. Each of these PTEs is a withholding agent and is required to file Form 592-PTE on an annual basis to allocate withholding.

Tax withheld on California source income is reported to the Franchise Tax Board (FTB) using Form 592. Form 592 includes a Schedule of Payees section, on Side 2, that requires the withholding agent to identify the payees, the income amounts, and the withholding amounts.

California Revenue and Taxation Code (R&TC) Sections 18662 and 18664 require the withholding agent to provide a completed Form 592-B, Resident and Nonresident Withholding Tax Statement, to the payee to report the amount of payment or distribution subject to withholding and tax.

2021 Form 592-A Payment Voucher for Foreign Partner or Member Withholding. Page 1. TAXABLE YEAR. 2021 Payment Voucher for Foreign Partner or Member Withholding.

The California backup withholding rate is 7% of the payment. For California purposes, dividends, interests, and any financial institutions release of loan funds made in the normal course of business are exempt from backup withholding.