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Self-employment taxes: By default, members of an LLC are considered self-employed for the purposes of taxation, meaning they'll need to pay out of pocket for Medicare and Social Security.
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 ...
Californians pay the highest marginal state income tax rate in the country -- 13.3%, according to Tax Foundation data. But California has a graduated tax rate, which means your rate increases with...
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]
The Earned Income Tax Credit is included if age and AGI criteria are met, and military pay is included. TaxSlayer: This provider has no age restriction but does have a lower AGI threshold of $44,000.
The series LLC is becoming more widely used as a liability segregation technique as its tax treatment becomes clearer and its use spreads. To date, the inter-jurisdictional efficacy of portfolio segregation has not been widely tested and the lack of precedent in federal bankruptcy court in particular is a significant source of uncertainty.