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LLC annual tax for initial CA 568 is waived

GQ
Level 1

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?

 

1644255501(1).png1644255512(1).png

2 Comments 2

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.  

GQ
Level 1

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.