Instructions for Schedule C: Income, Loans and Business Positions (Income Other than Gifts and Travel Payments)

FPPC Form 700 (2018/2019)
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Instructions - Page 15

Reporting Income:

Report the source and amount of gross income of $500 or more you received during the reporting period. Gross income is the total amount of income before deducting expenses, losses, or taxes and includes loans other than loans from a commercial lending institution. See Reference Pamphlet. You must also report the source of income to your spouse or registered domestic partner if your community property share was $500 or more during the reporting period.

The source and income must be reported only if the source is located in, doing business in, planning to do business in, or has done business during the previous two years in your agency's jurisdiction. See Reference Pamphlet. Reportable sources of income may be further limited by your disclosure category located in your agency's conflict of interest code.

Reporting Business Positions:

You must report your job title with each reportable business entity even if you received no income during the reporting period. Use the comments section to indicate that no income was received.

Commonly reportable income and loans include:

  • Salary/wages, per diem, and reimbursement for expenses including travel payments provided by your employer
  • Community property interest (50%) in your spouse's or registered domestic partner's income - report the employer's name and all other required information
  • Income from investment interests, such as partnerships, reported on Schedule A-1
  • Commission income not required to be reported on Schedule A-2 (See Reference Pamphlet.)
  • Gross income from any sale, including the sale of a house or car (Report your pro rata share of the total sale price.)
  • Rental income not required to be reported on Schedule B
  • Prizes or awards not disclosed as gifts
  • Payments received on loans you made to others
  • An honorarium received prior to becoming a public official. (See Reference Pamphlet.)
  • Incentive compensation (See Reference Pamphlet.)

You are not required to report:

  • Salary, reimbursement for expenses or per diem, or social security, disability, or other similar benefit payments received by you or your spouse or registered domestic partner from a federal, state, or local government agency.
  • Stock dividends and income from the sale of stock unless the source can be identified.
  • Income from a PERS retirement account.

See Reference Pamphlet for more exceptions to income reporting.

To Complete Schedule C:

Part 1. Income Received/Business Position Disclosure

  • Disclose the name and address of each source of income or each business entity with which you held a business position.
  • Provide a general description of the business activity if the source is a business entity.
  • Check the box indicating the amount of gross income received.
  • Identify the consideration for which the income was received.
  • For income from commission sales, check the box indicating the gross income received and list the name of each source of commission income of $10,000 or more. See Reference Pamphlet. Note: If you receive commission income on a regular basis or have an ownership interest of 10% or more, you must disclose the business entity and the income on Schedule A-2.
  • Disclose the job title or business position, if any, that you held with the business entity, even if you did not receive income during the reporting period.

Part 2. Loans Received or Outstanding During the Reporting Period

  • Provide the name and address of the lender.
  • Provide a general description of the business activity if the lender is a business entity.
  • Check the box indicating the highest balance of the loan during the reporting period.
  • Disclose the interest rate and the term of the loan.
    • For variable interest rate loans, disclose the conditions of the loan (e.g., Prime + 2) or the average interest rate paid during the reporting period.
    • The term of the loan is the total number of months or years given for repayment of the loan at the time the loan was entered into.
  • Identify the security, if any, for the loan.

Reminders:

  • Code filers - your disclosure categories may not require disclosure of all sources of income.
  • If you or your spouse or registered domestic partner are self-employed, report the business entity on Schedule A-2.
  • Do not disclose on Schedule C income, loans, or business positions already reported on Schedules A-2 or B.

[End of SCHEDULE C: INCOME, LOANS, AND BUSINESS POSITIONS (Income Other than Gifts and Travel Payments) - Instructions - Page 15]