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G
GQ76_2
Level 2
February 7, 2022
Question

LLC annual tax for initial CA 568 is waived

  • February 7, 2022
  • 1 reply
  • 0 views

The California Franchise Tax Board updated the rule that the LLC annual tax is not required for entities formed on or after 1/1/2021. When I marked the CA 568 as initial on the worksheet, the form still generate an annual tax of $800. When I override by entering a "-1", there is a critical diagnostic came out.

Is there a way to waive it?

 

    This topic has been closed for replies.

    1 reply

    S
    strongsilence
    Level 10
    February 7, 2022

    LC has not updated the software yet.  See the thread from Friday.

     

    Why is your consent date 3/23/2021?   I've understood that the consent date is the date the single member signs the form 568.  

      G
      GQ76_2Author
      Level 2
      February 8, 2022

      Thank you for the answer. I will keep watching Lacerte. For the consent date, the screenshot is not a real return, I just randomly put in the information to test the LLC tax. 

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