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What is California Franchise Tax (CA 568)?
In California, LLCs are subject to the mandatory California Franchise Tax, which applies to LLCs operating within the state. They must file CA Form 568 (Limited Liability Company Return of Income) and pay an annual franchise tax of $800. This rule applies to disregarded entities or partnerships. The $800 annual tax is due, even if the LLC is not conducting business, until it is canceled. There are also additional fees for LLCs with annual income equal to or over $250,000. Form 568 provides a detailed overview of the LLC’s financial transactions throughout the year, covering everything from income to property distributions, refunds, withholdings, and use tax.
Who needs to file:
Form 568 filing is required for every LLC not taxed as a corporation under the following circumstances:
When to file?
When to pay tax?
Our Services:
Why Choose DimovTax?
Get Started Today!
Ready to take control of your California franchise tax obligations? Contact us below to get started. We are here to support your business success by ensuring tax compliance and optimizing your financial strategy. This draft follows the structure and content of the existing Texas franchise tax landing page, tailored to the specifics of California franchise tax.
Call us today at (833) 829-1120, email us at info@dimovtax.com, or fill out the form and we’ll get in touch immediately.
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Dimov Tax is rated 5 stars on all major review platforms including Google, Yelp, Facebook, Angie’s List, Better Business Bureau, TaxBuzz, Thumbtack, Upwork, Bark, and much more.