California LLC Tax Help?

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Past due on LLC Tax in California. Want to be elected as S corp. now. HELP?

I spoke to a person at Franchise Tax Board California about two weeks ago to find out whether I'm in a big trouble or not because I didn't pay the LLC tax for last year. I was relieved to hear that I will be perfectly okay as long as I pay the interest for being late which came up to about 10% There was a surprising bad news though that I was also late for this year's LLC tax as well! I had absolutely no idea that LLC taxes are due in advance at the beginning (well, April) of that year. Therefore...

Answer:

Electing treatment as an S corporation wouldn't help you for the $800 fee, unless last year was the...

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Other solutions

Do I need to File Taxes for my LLC (California) if I made no money? Annual Tax? Annual Fee?

Okay...I started a company in August 2011. Its an LLC. Since then...I've made absolutely no income because my store isn't even open yet. I'm still working on setting it up. So my question is: if I made no income to be taxed...Do I still file for taxes...

Answer:

absolutely the $800 is annual regardless of what your LLC does you would do well to dissolve it

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Does a single-person LLC in California have any advantages?

I started filling out an SS4 application for a single-person LLC in California, when in the instructions it says "By default, a domestic LLC with only one member is disregarded as an entity separate from its owner and must include all of its income...

Answer:

On the Federal level, there is no tax advantage to an LLC. You are taxed the same as a Sole Proprietorship...

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Questions on filing taxes in California and on LLC's?

Okay...I started a company in August 2011. Its an LLC. Since then...I've made absolutely no income because my store isn't even open yet. I'm still working on setting it up. So my question is: if I made no income to be taxed...Do I still file for taxes...

Answer:

What are you? If you are single member LLC and you did NOT elect to be taxed as a corporation, your...

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Opening a single member llc in California - what forms to file?

Hi, planning to open a single member llc in California. Please point me to: 1. What forms to file and where to get those forms from. 2. Is there any online site to do it? 3. What are the tax implications? I dont expect to have much income.so want to...

Answer:

first thing to consider is that in Calif. if you form an LLC and report as a corp you will have an annual...

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Does a Delaware LLC registered to do business in Rhode Island owe California tax on income from CA clients?

Delaware LLC, headquartered and registered to do business in Rhode Island, with 100 marketing-services clients spread evenly nationwide. Needs to hire a star employee who lives in California and works for the LLC remotely. Should the LLC also register...

Answer:

Yes having an employee in CA definitely subjects you to CA taxes.  You need to register as a foreign...

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How much tax do I have to pay with the penalty in california?! HELP!?

I didn't file my 2009 california tax return because I'm an idiot. Now I have to file them with a penalty. I already calculated it and filled out the paper work. I owe 104 dollars without the penalty but how much is it with the penalty. This is all I...

Answer:

File the return NOW. FTB will send you a bill for the penalty.

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Need help with delaware LLc taxes, answers from people experienced with DELAWARE llc tax laws?

I filed a single member llc in delaware that will do business exclusively abroad.  The llc is a passthrough entity so there is no federal tax to be paid by the LLc but instead will be filed on the individuals personal tax return.  However, what happens...

Answer:

Because the LLC is a disregarded entity any profits are taxed based on the individual owner's tax status...

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Where should I open up an LLC in other state for tax advantage if I am residing and operating in California?

I am currently developing a marketplace startup where it will be providing place for people to sell and buy services.  I am a US permanent resident residing in California.  I intent to open in other state because I intent to keep my cost down due to...

Answer:

This issue comes up so frequently that I blogged about it more than three years ago (Doing Business...

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Dana H. Shultz at Quora Mark as irrelevant Undo

California state tax return help?

I filed a IRS tax form...I filled out my form using online service. My federal tax form was accepted by IRS. I chose mail option...so, I mailed my tax form to IRS. My state tax form is accepted by california state. Do I still have to print out the form...

Answer:

www.TAXadviceNOW.info

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