News

Announcements and Updates

So now you have an Limited Liability Company (LLC)...A must read for knowing what forms to file for your CA taxes.

“It can be complicated, consider using a licensed tax professional”

Knowing the correct form to file is important. For California tax purposes, we conform to the federal check-the-box regulations. LLCs are classified in the following ways:

  • LLCs with more than one member default to a partnership classification.

  • LLCs with only one member default to a disregarded entity.

  • LLCs may also elect to be treated and taxed as a corporation.

All LLCs must file the appropriate form according to how they are treated for California tax purposes. Below are examples of the proper forms to file based on how your LLC is treated under the California Revenue & Taxation Code (R&TC).


Click on this link for a lot more information:

https://www.ftb.ca.gov/businesses/Structures/LLC-Filing-Requirements.shtml

steve@stevesimsea.com


GeneralSteve Sims#ftb, #llc, #taxes