Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- How to waive the first year CA LLC annual tax?
How to waive the first year CA LLC annual tax?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Choy1234
Level 1
02-12-2022
02:22 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
HI,
According to the FTB, "If you cancel your LLC within one year of organizing, you can file Short form cancellation (SOS Form LLC-4/8) with the SOS. Your LLC will not be subject to the annual $800 tax for its first tax year."
My client formed an LLC in 2021 and cannelled it at the end of 2021. So he should be exempt from the annual LLC tax.
Even thought I select the "yes" on the question "is this the first year of doing business in California", and mark "Final Return", the F568 still show a balance due of $800.
How can I fix this?
Labels
1 Comment 1
joshuabarksatlc
Level 10
02-13-2022
12:19 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
in Lacerte, that field can be overwritten with $0. Attach the endorsed LLC-4/8 if available.
I come here for kudos and IRonMaN's jokes.
