Some key factors to know about the Franchise Tax Board (FTB) and your sale escrow:

• Every Seller’s withholding status is assessed separately
• Married Sellers are each considered to hold a 50% interest (Community Property State)  
• A properly completed Form 593-C avoids withholding
• No FTB form is complete without a Taxpayer Identification Number (TIN) 
• Form 593-E is offered by the FTB as a Taxpayer’s worksheet 
  
  • If used, it should be retained by the Seller for use in filing a tax return 
  • The Escrow Holder is not concerned with the contents of Form 593-E 
• If a Seller subject to withholding does not complete Form 593, it will be completed by the Case escrow officer and submitted with a standard 3.33% withholding payment at the close of escrow
• To elect the alternate ‘Gain on Sale’ withholding option, a Seller must complete and sign Form 593 himself 

Learn more from our FTB and your Sale Escrow download!