Does the California cybersecurity audit rule apply to my business? A California business is in scope if it either earned at least 50% of its revenue from selling or sharing personal information, or exceeded roughly $26.625 million in annual gross revenue and processed the personal information of at least 250,000 California consumers or households (or…
What is the California LLC fee, and how do you avoid the 10% penalty? Separate from the $800 annual minimum franchise tax, California imposes a second, income-based “LLC fee” (Revenue & Taxation Code §17942) on every LLC organized, doing business, or registered in California with total California-source income of at least $250,000. The fee is…
What does California SB 261 require for climate-related financial risk reporting? California’s SB 261 (Public Resources Code §38533, the Climate-Related Financial Risk Act, as amended by SB 219) requires U.S. companies with annual revenues over $500 million doing business in California to publish a biennial climate-related financial risk report. The first report is due January…
