2 ms·
Not the franchise tax.
by asdsa5325 9y ago
Not the franchise tax.
- mintplant 9y ago> All LLCs (not classified as a corporation) that are doing business in California, or file an article of organization or certificate of registration with the Secretary of State must file Form 568, Limited Liability Company Return of Income, pay the annual minimum franchise tax of $800, and LLC fee (if applicable). https://www.ftb.ca.gov/businesses/Structures/Limited-Liability-Company.shtml https://www.ftb.ca.gov/businesses/Structures/Limited-Liabili...
- mark212 9y agoYep. The limitation though is that a foreign entity only has to pay the tax on its California receipts. So if 10% of your $1 million annual profits are derived from California, you pay the 1.5% (min $800) on that $100,000 and not the whole thing. And btw that’s the rule in every state. They all want to tax whatever revenue is generated in that state (unless they don’t have a business tax at all, which is somewhat rare)