Form 100W (2024) — California Corporation Franchise or Income Tax Return — Water's-Edge Filers

California Corporation Franchise or

# TAXABLE YEAR FORM

# Income Tax Return — Water's-Edge Filers

2024 100W
RP
For calendar year 2024 or fiscal year beginning and ending .
(mm/dd/yyyy) (mm/dd/yyyy)
Corporation name California corporation number FEIN Additional information. See instructions. California Secretary of State file number Street address (suite/room no.) PMB no.
City (If the corporation has a foreign address, see instructions.) State ZIP code Foreign country name Foreign province/state/county Foreign postal code

# Schedule Q Questions (continued on Side 2)

• • • • •

A FINAL RETURN? Dissolved Surrendered (withdrawn) Merged/Reorganized IRC Section 338 sale QSub election • Enter date (mm/dd/yyyy) … • • • B 1. Is income included in a combined report of a unitary group? Yes No

If "Yes," indicate: Wholly within CA (R&TC 25101.15) Within and outside of CA … • • •

Is there a change in the members listed in Schedule R-7 from the prior year? Yes No
Enter the number of members (including parent or key corporation) listed in the Schedule R-7, Part I, Section A, subject to income or franchise tax … • • •
Is form FTB 3544 attached to the return? Yes No C 1. During this taxable year, did this corporation or any of its subsidiaries acquire control or majority ownership (more than a 50% interest) in another legal entity? . . . • • • If yes, did the acquired entity(ies) own California real property (i.e., land, buildings), lease such property for a term of 35 years or more, or lease such property from a government agency for any term? If yes to both questions, answer yes Yes No
During this taxable year, did another person or legal entity acquire control or majority ownership (more than a 50% interest) of this corporation or any of its subsidiaries? . . • • • If yes, did the acquired entity(ies) own California real property (i.e., land, buildings), lease such property for a term of 35 years or more, or lease such property from a government agency for any term? If yes to both questions, answer yes Yes No
Has California real property (i.e., land, buildings) transferred to the corporation that was excluded from property tax reassessment under Revenue and Taxation Code Section 62(a)(2)? … • • •

If yes, during this taxable year, has more than 50% of the voting stock of this corporation cumulatively transferred in one or more transactions and it was not reported on previous year's tax return? If yes to both questions, answer yes Yes No (Yes requires filing of BOE-100-B statement, penalties may apply - see instructions.) 1 Net income (loss) before state adjustments. See instructions 1 00 2 Amount deducted for foreign or domestic tax based on income or profits from Schedule A 2 00 State Adjustments 3 Amount deducted for tax under the provisions of the Corporation Tax Law from Schedule A 3 00 4 Interest on government obligations 4 00 5 Net California capital gain from Side 6, Schedule D, line 11 5 00 6 Depreciation and amortization in excess of amount allowed under California law. Attach form FTB 3885 6 00 7 a Net income from included CFCs from form FTB 2416, column (i). See instructions 7a 00 b Net income from corporations not included in federal consolidated return. See instructions 7b 00 8 Other additions. Attach schedule(s) 8 00 9 Total. Add line 1 through line 8 9 00 3621243 Form 100W 2024 Side 1

# State Adjustments (cont.)

Text version of this table

)	10	Intercompan	• y dividend elimination. Attach Schedule H (100W) . . . . . . . 10				00
ont.	11	a Foreign d	• ividend deduction. Attach Schedule H (100W) . . . . . . . . . . . 11a				00
s (c		b Dividends	• received deduction. Attach Schedule H (100W) . . . . . . . . . 11b				00
ent	12	Additional d	• epreciation allowed under CA law. Attach form FTB 3885 . . 12				00
stm	13	Capital gain	• from federal Form 1120, line 8 . . . . . . . . . . . . . . . . . . . . . . 13				00
Adju	14	Charitable C	• ontributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14				00
te	15	Other deduc	• tions. Attach schedule(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . 15				00
Sta	16	Total. Add li	ne 10 through line 15 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		16	00
	17	Net income	(loss) after state adjustments. Subtract line 16 from Side 1, line 9 . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		17	00
me	18	Net income (	loss) for state purposes. Complete Schedule R if apportioning or allocating inco	me	. See instru	ctions.	•		18	00
nco	19	Net operatin	• g loss (NOL) deduction. See instructions . . . . . . . . . . . . . . 19				00
et I	20	EZ, TTA, or L	• AMBRA NOL carryover deduction . . . . . . . . . . . . . . . . . . . . 20				00
A N	21	Disaster los	• s deduction. See instructions . . . . . . . . . . . . . . . . . . . . . . . . 21				00
C	22	Net income	for tax purposes. Combine line 19 through line 21. Then, subtract from line 18	. .	. . . . . . . .	. . . . . .	•		22	00
	23	Tax.	% x line 22 (at least minimum franchise tax, if applicable). See instructions.	. .	. . . . . . . .	. . . . . .	•		23	00
	24	Credit name	• code amount . . . . . ▶ 24				00
			______
	25	Credit name	• code amount . . . . . ▶ 25				00
			______
xes	26	To claim mo	• re than two credits, see instructions . . . . . . . . . . . . . . . . . . 26				00
Ta	27	Add line 24	through line 26 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		27	00
	28	Balance. Su	btract line 27 from line 23 (at least minimum franchise tax, if applicable) . . . . .	. .	. . . . . . . .	. . . . . .	•		28	00
	29	Alternative	minimum tax. Attach Schedule P (100W). See instructions . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		29	00
	30	Total tax. A	dd line 28 and line 29 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		30	00
	31	Overpaymen	• t from prior year allowed as a credit . . . . . . . . . . . . . . . . . . 31				00
nts	32	2024 Estima	• ted tax payments. See instructions . . . . . . . . . . . . . . . . . . 32				00
e
ym	33	2024 Withh	• olding (Form 592-B and/or 593). See instructions. . . . . . . . 33				00
Pa	34	Amount paid	• with extension of time to file tax return . . . . . . . . . . . . . . . 34				00
	35	Total payme	nts. Add line 31 through line 34 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		35	00
	36	Tax due. If l	ine 30 is more than line 35, subtract line 35 from line 30. Go to line 40 . . . . . .	. .	. . . . . . . .	. . . . . .	•		36	00
	37	Overpayme	nt. If line 35 is more than line 30, subtract line 30 from line 35 . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		37	00
	38	Amount of li	ne 37 to be credited to 2025 estimated tax . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		38	00
Due	39	Refund. Am	ount of line 37 to be refunded. Line 37 less line 38 . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		39	00
nt		See instruct	ions to have the refund directly deposited.
ou			□
Am			Checking
or			□
nd			Savings
u
Ref		• 39a. R	• • outing number 39b. Type 39c. Account number
	40	a Penalties	and interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . . .	•		40a	00
		□
		• b	Check if estimate penalty computed using Exception B or C on form FTB 5806	. S	ee instruct	ions
	41	Total amoun	t due. Add line 36 and line 40a. Pay this amount . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . .	. . . . .			41	00
Sc	hed	ule Q Qu	estions (continued from Side 1)
D	This	return is bei	ng filed pursuant to a water’s-edge election under R&TC Section 25113,
	com	mencing on	. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	En	ter date (m	m/dd/	yy	yy	• )
									□ □
E	Was	the corpora	tion’s income included in a consolidated federal return? . . . . . . . . . . . . . . . . .	. .	. . . . . . . . .	. . . . .	. . .	.	• . . Yes No
F	Prin	cipal busines	s activity code. (Do not leave blank): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	. .	. . . . . . . . .	. . . . .	. . .	.	• . .
	Busi	ness activity
			____________________________________________________________
	Prod	uct or servic	e
			___________________________________________________________
G	Date	incorporate	• d (mm/dd/yyyy): Where: State C	ou	ntry
H	Date	business be	gan in California or date income was first derived from California sources . . .	. .	. . . . . . . . (	mm/d	d/y	yy	• y)
									□ □
I	Was	the corpora	tion an inactive business both within and outside of California during the taxab	le	year? . . . .	. . . . .	. . .	.	• . . Yes No
					Sc	hedul	e	Q	Questions (continued on Side	3

# 14 Charitable Contributions

# CA Net Income

• •

□ b

# Schedule Q Questions (continued from Side 1)

D This return is being filed pursuant to a water's-edge election under R&TC Section 25113, • Enter date (mm/dd/yyyy) … commencing on □ … • □ E Was the corporation's income included in a consolidated federal return? Yes No F Principal business activity code. (Do not leave blank):

Side 2 Form 100W 2024

# Schedule Q Questions (continued on Side 3)

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3623243 Form 100W 2024 Side 3
J First return? Yes No If "Yes," and this corporation is a successor to a previously existing business, check the appropriate box.
(1) Sole proprietorship (2) Partnership (3) Joint venture (4) Corporation (5) Other (Attach statement showing name, address, and FEIN/SSN/ITIN of previous business.) K "Doing business as" name. See instructions:
L At any time during the taxable year, was more than 50% of the voting stock:

Of the corporation owned by any single interest? Yes No
Of another corporation owned by this corporation?

Of this and one or more other corporations owned or controlled, directly or indirectly, by the same interests?

# Yes No

If 1 or 3 is "Yes," enter the country of the ultimate parent If 1, 2, or 3 is "Yes," furnish a statement of ownership indicating pertinent names, addresses, and percentages of stock owned.
If the owner(s) is an individual, provide the SSN/ITIN and see FTB 1131 EN-SP, for more information.
M Has the corporation included a reportable transaction or listed transaction within this return? (See instructions for definitions) Yes No If "Yes," complete and attach federal Form 8886 for each transaction.
N Is this corporation apportioning or allocating income to California using Schedule R? Yes No O How many entities, if any, including this corporation, are claiming immunity from taxation in California under Public Law 86-272?
P Corporation headquarters are: (1) Within California (2) Outside of California, within the U.S. (3) Outside of the U.S.
Q Location of principal accounting records:

R Accounting method: (1) Cash (2) Accrual (3) Other S Does this corporation or any of its subsidiaries have a Deferred Intercompany Stock Account (DISA)?

Yes No
If "Yes," enter the total balance of all DISAs $ T Is this corporation or any of its subsidiaries a RIC?

# Yes No

U Is this corporation treated as a REMIC for California purposes? Yes No V 1. Is this corporation a REIT for California purposes? Yes No

If question V1 is "Yes," does the entity own any qualified REIT subsidiaries that are incorporated or qualified with the California Secretary of State? If yes, see instructions Yes No W Is this corporation an LLC or limited partnership electing to be taxed as a corporation for federal purposes? Yes No If "Yes", enter the effective date of the election (mm/dd/yyyy):

X Is this corporation to be treated as a credit union? Yes No Y Is the corporation under audit by the IRS or has it been audited by the IRS in a prior year? Yes No Z Have all required information returns (e.g. federal Forms 1099, 5471, 5472, 8300, 8865, etc.) been filed with the Franchise Tax Board? N/A Yes No AA Does the taxpayer (or any corporation of the taxpayer's combined group, if applicable) own 80% or more of the stock of an insurance company? Yes No
BB Did the corporation file the federal Schedule UTP (Form 1120)?

Yes No
CC Does any member of the combined report own an SMLLC or generate/claim credits that are attributable to an SMLLC?

# Yes No

DD 1. Has this business entity previously filed an unclaimed property Holder Remit Report with the State Controller's Office? Yes No

If "Yes," when was the last report filed? (mm/dd/yyyy) 3. Amount last remitted $

Text version of this table

Sign Here	Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge. • Signature Title Date Telephone of officer ▶ Officer’s email address (optional)
	Officer's email address (optional)
Paid Preparer’s Use Only	Preparer's signature	Date	Check if selfemployed	• PTIN
	Firm’s name (or yours, if self-employed) ▶ and address			• Firm’s FEIN
				• Telephone
	May the FTB discuss this return with the preparer shown above? See instructions . . . . . . . . . . . . . . . . . . .• □ Yes □ No

# Firm's FEIN

Telephone
May the FTB discuss this return with the preparer shown above? See instructions Yes No
For Privacy Notice, get FTB 1131 ENG-SP.

Text version of this table

(a) Nature of tax	(b) Taxing authority	(c) Total amount	(d) Nondeductible amount
				00
				00
Total. Enter total of column (c) on Schedule F, line 17, and total of column (d) on Side 1, line 2 or line 3. If the corporation uses California computation method to compute the net income, see instructions. . . . . .				00

Schedule F Computation of Net Income. See instructions.
1 a Gross receipts or gross sales

1c b Less returns and allowance __ c) Balance … • 2 2 Cost of goods sold. Attach federal Form 1125-A (California Schedule V) 00 … • 3 3 Gross profit. Subtract line 2 from line 1c 00 … • 4 4 Total dividends. Attach federal Schedule C (California Schedule H (100W)) 00 … • 5a 5 a Interest on obligations of the United States and U.S. instrumentalities 00

Income
… • 5b b Other interest. Attach schedule 00 … • 6 6 Gross rents 00 … • 7 7 Gross royalties 00 … • 8 8 Capital gain net income. Attach federal Schedule D (California Schedule D) 00 … • 9 9 Ordinary gain (loss). Attach federal Form 4797 (California Schedule D-1) 00 … • 10 10 Other income (loss). Attach schedule 00 … • 11 11 Total income. Add line 3 through line 10 00 12 Compensation of officers. Attach federal Form 1125-E or … • 12 equivalent schedule 00 … • 13 13 Salaries and wages (not deducted elsewhere) 00 14 Repairs and maintenance … 14 00 … • 15 15 Bad debts 00 … • 16 16 Rents 00 … • 17 17 Taxes (California Schedule A). See instructions 00 … • 18 18 Interest. Attach schedule 00 … • 19 19 Charitable Contributions. Attach schedule 00
Deductions

# 20 Depreciation. Attach federal

Form 4562 and FTB 3885 . 20
21 Less depreciation claimed

elsewhere on return … 21a 21b 00 … • 22

22 Depletion. Attach schedule 00
23 Advertising … 23 00
24 Pension, profit-sharing plans, etc. … 24 00 25 Employee benefit plans … 25 00 26 a Total travel and entertainment __ … • 26b b Deductible amounts 00 … • 27 27 Other deductions. Attach schedule 00 … • 28 28 Total deductions. Add line 12 through line 27 00 . . . • 29 29 Net income before state adjustments. Subtract line 28 from line 11. Enter here and on Side 1, line 1 00
Schedule J Add-On Taxes and Recapture of Tax Credits. See instructions.
__ … •
1 LIFO recapture due to S corporation election, IRC Sec. 1363(d) deferral: $ 1 00 2 Interest computed under the look-back method for completed long-term contracts (Attach form FTB 3834) 2 00 3 Interest on tax attributable to installment: a Sales of certain timeshares and residential lots 3a 00 b Method for nondealer installment obligations 3b 00 4 IRC Section 197(f)(9)(B)(ii) election 4 00
__ … •
5 Credit recapture name: 5 00
6 Combine line 1 through line 5, revise Side 2, line 36 or line 37, whichever applies, by this amount. Write "Schedule J" to the left of line 36 or line 37 6 00 Side 4 Form 100W 2024 3624243

# Schedule V Cost of Goods Sold

Text version of this table

1 Inventory at beginning of year. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ 2 Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . @ • 3 Cost of labor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 4 a Additional IRC Section 263A costs. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • b Other costs. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Total. Add line 1 through line 4b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Cost of goods sold. Subtract line 6 from line 5. Enter here and on Side 4, Schedule F, line 2 . . . . . . . . . . . . . .	1	00
	2	00
	3	00
	4a	00
	4b	00
	5	00
	6	00
	7	00

Method of inventory valuation
▶ __
Was there any change in determining quantities, costs of valuations between opening and closing inventory?
If "Yes," attach an explanation.
Enter California seller's permit number, if any □ □ … Yes No ▶ __ … □ Check if the LIFO inventory method was adopted this taxable year for any goods. If checked, attach federal Form 970

If the LIFO inventory method was used for this taxable year, enter the amount of closing inventory under LIFO … □ □ Do the rules of IRC Section 263A (with respect to property produced or acquired for resale) apply to the corporation? Yes No
The corporation may not be required to complete Schedules L, M-1, and M-2. See Schedule M-1 instructions for reporting requirements.

# Schedule L Beginning of taxable year

Balance Sheet
Assets
End of taxable year
(a)
1 Cash …
(b)
@
(c) (d)
•
•
2 a Trade notes and accounts receivable … @ @ I • ( b Less allowance for bad debts … 3 Inventories … 4 Federal and state government obligations … 5 Other current assets. Attach schedule(s) … 6 Loans to stockholders/officers. Attach schedule . .
7 Mortgage and real estate loans. … 8 Other investments. Attach schedule(s). … ) @ @ @ @ @ • ( ) • • • • • • 9 a Buildings and other fixed depreciable assets . . . ~ @ @ I • ( b Less accumulated depreciation … 10 a Depletable assets … ( b Less accumulated depletion … 11 Land (net of any amortization) … @ ) @ ) ( @ • ( ) I ) • I • 12 a Intangible assets (amortizable only) … @ @ ( b Less accumulated amortization . … 13 Other assets. Attach schedule(s) … 14 Total assets … .
Liabilities and Stockholders' Equity 15 Accounts payable … 16 Mortgages, notes, bonds payable in less than 1 year 17 Other current liabilities. Attach schedule(s) … 18 Loans from stockholders. Attach schedule(s) . . . .
19 Mortgages, notes, bonds payable in 1 year or more 20 Other liabilities. Attach schedule(s) … @ @ ) @ @ @ @ @ @ @ @ ( ) ~ • • I • • • • • • 21 Capital stock: a Preferred stock … @ @ I

b Common stock …

22 Paid-in or capital surplus. Attach reconciliation . . .
23 Retained earnings - Appropriated. Attach schedule 24 Retained earnings - Unappropriated … 25 Adjustments to shareholders' equity. Attach schedule 26 Less cost of treasury stock … 27 Total liabilities and stockholders' equity … @ • • ( ) • • • • ( ) Form 100W 2024 Side 5

Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return.
If the corporation completed federal Schedule M-3 (Form 1120/1120-F), see instructions.
1 Net income per books
2 Federal income tax
3 Excess of capital losses over capital gains 4 Taxable income not recorded on books this year (itemize) __
__ •
5 Expenses recorded on books this year not deducted in this return (itemize) a Depreciation . . _ $ b State taxes . . . . $ c Travel and entertainment $ . d Other … _ $ e Total. Add line 5a through line 5d 6 Total. Add line 1 through line 5e.
…
Schedule M-2
7 Income recorded on books this year not included in this return (itemize) a Tax-exempt interest $
__ b Other … $
__ c Total. Add line 7a and line 7b.
8 Deductions in this return not charged against book income this year (itemize) a Depreciation … _ $ b State tax refunds $ . c Other … _ $ d Total. Add line 8a through line 8c 9 Total. Add line 7c and line 8d … 10 Net income per return.
Subtract line 9 from line 6 …
Analysis of Unappropriated Retained Earnings per Books (Side 5, Schedule L, line 24) 1 Balance at beginning of year 2 Net income per books 3 Other increases (itemize) __

__ •
4 Total. Add line 1 through line 3 …

# Schedule D California Capital Gains and Losses

5 Distributions: a Cash b Stock c Property 6 Other decreases (itemize) __
__ •
7 Total. Add line 5 and line 6 …
8 Balance at end of year.
Subtract line 7 from line 4
Part I Short-Term Capital Gains and Losses - Assets Held One Year or Less. Use additional sheet(s) if necessary.
(a) (b)
Kind of property and description Date acquired
(c) (d) (e) (f)
Date sold Gross sales Cost or other Gain (loss) (mm/dd/yyyy) (mm/dd/yyyy) (Example, 100 shares of Z Co.) price basis plus (d) less (e) expense of sale 2 Short-term capital gain from installment sales from form FTB 3805E, line 26 or line 37 3 Unused capital loss carryover from 2023 3 00 … 4 Net short-term capital gain (loss). Combine line 1 through line 3 4 00 Part II Long-Term Capital Gains and Losses - Assets Held More Than One Year. Use additional sheet(s) if necessary.
(a) (b)
Kind of property and description Date acquired (c) (d) (e) (f) Date sold Gross sales Cost or other Gain (loss) (mm/dd/yyyy) 5 (mm/dd/yyyy) (Example, 100 shares of Z Co.) 00 price basis plus (d) less (e) expense of sale 6 Enter gain from Schedule D-1, line 9 and/or any capital gain distributions. 6 00 … 7 Long-term capital gain from installment sales from form FTB 3805E, line 26 or line 37 … 7 00 … 8 Net long-term capital gain (loss). Combine line 5 through line 7 8 00 9 00 9 Enter excess of net short-term capital gain (line 4) over net long-term capital loss (line 8) … 10 00 10 Net capital gain. Enter excess of net long-term capital gain (line 8) over net short-term capital loss (line 4) 11 Total lines 9 and 10. Enter here and on Form 100W, Side 1, line 5.
…
11 00
…
If losses exceed gains, carry forward losses to 2025 J
Side 6 Form 100W 2024