Posts Tagged ‘tax refund’
Perils of Dissolution, or Hey, FTB, Where’s My Dough?
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) may deduct $800 and apply it to next year’s taxes. Let’s say that a business…
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