— Capital Process Service, a leading Sacramento attorney service, warns LLCs in California that consequences can be severe if taxes are not properly paid for the LLC. Contract avoidance is one possible consequence for domestic and foreign LLCs that are registered with the California Secretary of State Office. Another is suspension or forfeiture of the LLC.
A California LLC is normally required to pay taxes to the Franchise Tax Board with a minimum annually of $800 as well as an additional fee based on the total annual income of the LLC. These taxes are paid the year of registration as well as each taxable year thereafter. Failure to file a return or failure to pay the required taxes can mean suspension or forfeiture of the business' rights and privileges.
Capital process adds, "Not only should tax laws regarding an LLC be known and followed. Someone just filing for an LLC in California should be aware of long delays unless the paperwork is filled out properly. Many business owners filing for an LLC in California run into interminable delays and frustration." Supporting this is a recent news story of one man filing an LLC who not only experienced a long delay in having his application processed, but after getting rejected spent four months getting the paperwork re-submitted. He now will pay an expediting fee to move it through faster.
To offset some of the problems in submitting paperwork, Capital Process provides filing tips on their blog site in hopes some will avoid delays. Of course, they offer services to make a business owner's efforts simple, without the necessity of spending valuable time ensuring the application is correct and gets seen and approved quickly. The company also plans to publish some important tips for LLC taxation on their blog in the near future.
Legislation is being proposed currently which will give the Secretary of State Office help in reducing the backlog of LLC and other business entity applications. Additionally, other legislation has also been proposed, according to some news sources, that will ensure businesses doing business in the state are treated equally under the state's Revenue Taxation Code. This seems to be moving through various California committees with no opposition.
Capital Process likes to see businesses in California have all the advantages and none of the hassles. They have a long history of working effectively with the California Secretary of State Office in Sacramento and provide an attorney service that gets paperwork filed quickly and efficiently. They ensure all is in order so there are no delays and can even expedite the process upon request.
About Capital Process Service: Capital Process Service, a leading attorney service in Sacramento, provides superior service in submitting filing for corporations, LLCs and other business entities in California, as well as process service, public records research and delivery service.
Name: Alan Jenice
Email: Send Email
Phone: (916) 247-7990
Release ID: 13243