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Updated over 7 years ago,
California LLC taxes explained
Hi
I have formed an LLC in California. I did this because I will need an LLC to be able to get a loan from my HM lender. Filing date was July 14th 2016, but so far I have not done anything with it. I am the only member, so it is a disregarded single member LLC. When exactly do I have to pay what taxes or fill out what forms?
I just got a letter from the California Franchise Tax Board stating that I have to
- Pay $800 annual tax by the 15th day of the 4th month - I think I am already too late for this? Should I have payed this before Oct 15th?
- Estimate and pay the annual fee - Since I have not done anything with my LLC yet, I think I don't have to do this?
- File form 568 - Do I have to do this even though it is a disregarded single member LLC?
When exactly do I have to do what in the first year and the following years? If I am already too late for the $800 annual tax, are they going to fine me if I pay that now?
Sorry, this might seem very basic questions. I just feel a bit overwhelmed with this official government english...
Thanks Simon