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Estate Planning, Trusts, Estates, Wills, Probate, Taxation, Business, Corporate and Partnership Law, Real Estate
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135 South Jackson Street, Suite 200, Glendale, California 91205
Telephone: 818-500-4888; Fax: 818-500-0633
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Whats New
- Recent Developments in California Corporations and Limited Liability Companies
- 1) Effective for corporations formed on or after 1/1/2000 it is no longer required to deposit prepaid California Franchise Tax. In addition, there is no minimum tax for the first two years. This means that to form a corporation the initial costs with the Secretary of State are $100 plus the over the counter fee of $15.
- Note: This means a one person corporation or simple corporation will cost less than $1,000 upon formation.
- 2) Effective 1/1/2000 a limited liability company formed in California may be formed with just one member.
- 3) The Franchise Tax Board has increased the gross receipts tax on limited liability companies. Example after 1/1/2000 annual fee is $865 where gross receipts are up to $500,000.
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