Ownership of Passive LLC Interest in Manager-Managed LLC Not “Doing Business” in California

Posted on March 10, 2017 by Richard Burt

The following is the text of an e-bulletin that I authored and that was published by the Corporations Committee of the Business Law Section of the State Bar of California. In Swart Enterprises, Inc. v. Franchise Tax Board  (Jan. 12, … Continue reading →

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LLC Annual Fee Clarified by Franchise Tax Board

Posted on July 15, 2016 by Richard Burt

A limited liability company (“LLC”) doing business in California (whether organized under California law or the law of another state) must pay an LLC annual fee on its “total income from all sources derived from or attributable to this state.” … 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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