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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28084
Experience:  Taxes, Immigration, Labor Relations
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I am a first time LLC, I have not made any money this year,

Customer Question

I am a first time LLC, I have not made any money this year, do I have to do both forms FTB 3522 and Form568
Submitted: 7 months ago.
Category: Tax
Expert:  Lev replied 7 months ago.
If the LLC is owned by one member (an individual), it will be treated as a disregarded entity and all income and expenses of the LLC will be reported on the member’s tax return as a sole proprietorship, i.e. Schedule C business.
Expert:  Lev replied 7 months ago.
All LLCs treated as disregarded entities are required to file Form 568, Side 1, Side 2, Side 6 (Schedule IW), and pay the annual tax and LLC fee (if applicable).That is regardless if the LLC had not did not have any business activities.Form 3522 is the LLC Tax Voucher - it is mot mandatory to use that form - but with or without that form - you Must Pay the Annual LLC Tax.Every LLC that is doing business in California or that has articles of organization accepted or a certificate of registration issued by the SOS is subject to the $800 annual tax..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.