What this document is
FTB 1024 is a reference chart the California Franchise Tax Board publishes to help taxpayers and tax professionals look up penalties that can apply under California's income and franchise tax laws. Each row lists a penalty by name alongside the relevant California Revenue and Taxation Code section and, where one exists, the comparable federal Internal Revenue Code section, along with how the penalty amount is calculated.
The chart covers a wide range of penalties, from the delinquent filing penalty, calculated as a percentage of unpaid tax for each month a return is late up to a cap, to more specific penalties such as those applying when a real estate escrow person fails to withhold required tax on a property sale, or when a seller of California real property files a false exemption certificate to avoid withholding.
Because tax law changes over time, the FTB revises FTB 1024 periodically to reflect current penalty rules; the document explicitly notes which tax years a given version applies to, so a reader should check the revision date against the current version the Franchise Tax Board publishes on its own site rather than assuming an older copy still reflects today's rules.
Where to find it
Available from California Franchise Tax Board.