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BizIPEsq.
BizIPEsq., Attorney
Category: Business Law
Satisfied Customers: 996
Experience:  I am a business attorney. I represent individuals and companies with all business related matters.
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Does the State of California FTB still give you the first year

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Does the State of California FTB still give you the first year free - waiving the $800 minimum tax when you start a new corporation? If so, does that mean that if you start a corp now (in 6/5/13) that if your fiscal year ends Dec 31st, 2013 that you do not pay the $800 then, but that you instead pay $800 at the end of 2014 for the calendar year ending Dec 31st, 2014? (or do you have to pay it sooner)?

BizIPEsq. :

Hello, I will be assisting you

BizIPEsq. :

California still has the 1st year waiver program for C or S corporations that formed in CA

BizIPEsq. :

(and for LLCs that choose to be taxed as a C or S corporation)

BizIPEsq. :

the relief is for the first year of operation which if you form a company now run through Dec 31, 2013 not 2014.

BizIPEsq. :

According to the filing guidelines the full franchise tax is to be paid in the 1st quarter of the following accounting year even if the corporation operated a shorter period of "less than 12 months".

BizIPEsq. :

I trust this answered your question

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