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In California, both foreign and domestic LLCs, corporations, and trusts, whether for-profit or non-profit—unless the entity is tax exempt—must at least pay a minimum income tax of $800 per year to the Franchise Tax Board; and no foreign LLC, corporation or trust may conduct business in California unless it is duly registered with the ...
The California excise tax on gasoline as of mid-2011 is 35.7 cents per gallon for motor fuel plus a 2.25% sales and use tax, 13 cents per gallon for diesel plus a 9.12% sales and use tax. [37] The California Department of Tax and Fee Administration provides an online list of sales taxes in the local communities of the state. [9]
Here are the key details tax filers should know about the eight IRS Free File tax preparation service options. TaxAct: This provider has an age requirement of 20 to 58 years and the standard ...
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
The IRS doesn’t recognize domestic partners or civil unions that aren’t marriages under state law. That means you can’t file a federal return saying you’re married filing separately or ...
With one LLC as good as another for this purpose, there’s no reason to pay more than you need to. In any case, the cost of forming the LLC is tax-deductible, so it’s worth noting your expenses. 2.