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If you own a home healthcare agency in California, can you…

Customer Question
If you own a...

If you own a home healthcare agency in California, can you form your professional corporation in Wyoming? Individual members will still pay individual California State Taxes.

Accountant's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

The business is in California

Accountant's Assistant: Has anything been officially filed? If so, what?

No It is simply to reduce the cost of having the entity Wyoming is $125/year and California is $800/year

Accountant's Assistant: Anything else you want the lawyer to know before I connect you?

That is all

Submitted: 5 months ago.Category: Tax
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11/21/2017
Tax Professional: Barbara, Enrolled Agent replied 5 months ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,796
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

You can form your corporation in Wyoming, but you will not be avoiding the franchise tax in California.

Because you are "doing business" in California, you would be required to register as a "foreign" corporation in California and be subject to the same franchise tax and income tax requirements (income is sourced in California) as you would if you formed the corporation in California.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

.

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Tax Professional: Barbara, Enrolled Agent replied 5 months ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

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Barbara
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Category: Tax
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