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…
Navigating the 2025 FTB Updates for the Minimum Tax Credit. Wondering how the recent Franchise Tax Board changes affect your Alternative Minimum Tax (AMT) credit for 2025? Discover what sentences were deleted from the form instructions and how it simplifies your tax calculations this year! Hello there, fellow taxpayers and tax professionals! Let’s…
Selling California Property as a Foreigner? Discover why the 3 1/3% withholding rule trips up even seasoned pros and how to navigate the specific requirements for foreign sellers without losing your mind (or your money). If you’ve ever dipped your toes into the California real estate market, you know it’s a beast of its…
