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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
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I was just curious about how much my delaware llc would pay

Customer Question

i was just curious about how much my delaware llc would pay in california taxes if the company was deemed to have a california nexus rather than a washgington state nexus
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
If that is a single member LLC - there will be two levels of California state tax liability.The LLC itself - will be liable for CA franchise tax - minimum $800.And you personally will report taxable income on the individual tax return - and your tax liability will be based on TOTAL income, filing status, deductions, etc.Tax rates are published herehttps://www.ftb.ca.gov/forms/2014_California_Tax_Rates_and_Exemptions.shtml They are between 1% and 12.3%.