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CA LLC Taxes

CA LLC Taxes

Old Apr 9th 2019, 7:24 pm
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Default CA LLC Taxes

Here's an anecdote about filing business taxes in CA.

On the box Turbo Tax states that it provides 'everything' for the LLC.
However there is one specific form that it does not file electronically. Form 568. And Turbo Tax gives no explanation why it does not file this electronically. Tough for you....
Of course many in the throes of doing their taxes are quite unaware that Turbo Tax does not file this form electronically. Especially when you hit the button and TurboTax tells you that you've successfully filed your taxes.
(Of course this small detail is in the small print, which is typically small..)
And if you don't file this form there are penalties of course. CA loves penalties, and fines, and fees, and interest..)
Many discover this only years later.

It gets better.

CA requires the LLC owner to file this form electronically.
In order not to file electronically the business owner has to apply for a waiver!
When granted this waiver allows you to print Form 568 old school, and mail it old school.


Pay attention to this if you have an LLC in CA.
It's a trap.

Last edited by Hotscot; Apr 9th 2019 at 7:38 pm.
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