Buy-Sell Agreements in the Articles of Incorporation

Posted on June 20, 2018 by Richard Burt

Under the Corporations Code, if there is a suit for involuntary dissolution, or if there is an election to dissolve voluntarily by shareholders representing only 50% of the voting power of the stock, the dissolution of the corporation and the … Continue reading →

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Perils of Dissolution, or Hey, FTB, Where’s My Dough?

Posted on July 19, 2016 by Richard Burt

Sometimes a California limited liability company (LLC) or California corporation dissolves and files a final tax return which shows it has a refund coming, but the refund is $800 short. How could this happen? It’s because the Franchise Tax Board (FTB) … Continue reading →

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Here’s One Way Not to Pay Taxes – Legally!

Posted on April 22, 2016 by Richard Burt

California charges a minimum franchise tax of $800 each year. This is a tax on the privilege of being a corporation. It doesn’t matter whether the corporation is profitable or even if it has any revenue. The state wants its … Continue reading →

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Don’t go to MyFTB.com. It’s not the official site.

Posted on January 19, 2016 by Richard Burt

To access your MyFTB account, go to the FTB’s website: www.ftb.ca.gov . Note that the word “my” is NOT part of the URL. MyFTB.com has been reported as a malware site.

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Real Estate Withholding Credit for Pass-Through Entities

Posted on January 8, 2015 by Richard Burt

The California Franchise Tax Board (FTB) has recently published a reminder about credit for real-estate withholding. According to the FTB: Pass-through business entities that pass through their income, deductions, and credits to the owners must also pass through the real … Continue reading →

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