CA LLC: Required Govt Filings Every Year, Quarter, Month, ... | don't miss these legal requirements!
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- Опубліковано 14 жов 2024
- If you have a Limited Liability Company (LLC) in California, you are required to do certain government filings each year, quarter, and sometimes even more often.
In this video I cover the TWO requirements for EVERY LLC and the various requirements that depend on the size, location, and type of your business.
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Legal Disclosure: I am licensed to practice in the state of California and before the United States Patent and Trademark Office. Information contained in this video is not legal advice - please seek advice of counsel. This video and description may contain attorney advertising.
Disclosure: My videos may contain reviews, recommendations, testimonials, or endorsements of other businesses, individuals, events, materials (such as books), products, services, or websites. At this time I do not receive any monetary compensation or affiliate revenue for such content. I occasionally receive free access to a service, product, or program in order to provide a review; if so, I will clearly disclose this in the video.
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Statement of Information via Bizfile:
ua-cam.com/video/FY-ruxQelBE/v-deo.html
Thank you for all this information. Little by little I feel more confident in getting all steps ready to start a business. Your advice is amazing and clear. Thank you!🙂
Great to hear, glad I could help!
Fantastic information! Question, what is "a lot of money"? And what is "made"? My LLC (taxed as an S corp)has grossed 80K in Q1 of this year. Is that a lot of money? I don't know the real profit, but probably about 40K. This video is pure gold for me, I was having so much trouble getting this information. Thank you Elizabeth!
Welcome! Generally speaking, in CA most taxes/fees are calculated based on the profit. (Not true for everything / other states - in some places it is based on gross revenue.)
Wow, amazing content. Thanks for guiding us. Your recommendations have been great in the past. Northwest was great for registration. Will try gusto.
great to hear, thanks!!
Hi Elizabeth, you gained a new subscriber! Your videos are so easy to follow along. I forgot to file my SOI for two years!
I went online and filed it but hadn't for two years. I haven't received any notices. Do you know how the SOS handles that?
Sometimes the SOS gives you a grace period, but if you were too late they will send you a bill. But make sure they have the right address and email for you, if you didn't get any notices
This was really helpful, Elizabeth! Thank you very much!!! Just to clarify, it sounds like the steps you presented are in the order they should be done. Right? Thanks!
Generally yes
Hi and thank you for all your insight!!!! I’m just starting my Llc to run a small drink place(hopefully more in the future). The LLC can essentially be shield behind the DBA?
You can think of the LLC as being a shield between the DBA / your business, and you personally
Hello Elizabeth, nice to meet you. Thanks for th e videos. I would like to ask the following question. If i have an FL LLC that is going to do business in California. Apart from the Statement of information, Sales Tax and franchise tax y should take something more into account? Thnaks
You might need a business license from the city, depends on what you are doing
Hello Elizabeth. Please a video on how to change/update business entity address (especially Sole Proprietor) and should it be updated to multiple places or just one? Thank you in advance👍👍
Here's a video I did on changing your business address - it is more for llc/corporations but much of the same applies to a sole prop ua-cam.com/video/Cpkom0zVA38/v-deo.html
Hi, you have great videos!!! Question regarding 1099s for an independent contractor...would that be someone you hire/paid to do just something for your business? Like a service? Or would that include something tangible you paid for? Not materials like packaging supplies. More like, paying a graphic artist to create a business logo. And, is $600 a Federal, State, or general minimum?
It is going to be only for a service, not tangible products. But a logo isn't tangible. So I'd say a graphic artist creating a logo is a service and would get a 1099. The $600 is federal -- some states also require 1099s but not all - see quickbooks.intuit.com/learn-support/en-us/help-article/form-1099-misc/need-file-1099-forms-state/L4kgvl9Tb_US_en_US#:~:text=If%20you%20are%20in%20Alaska,1099%2DMISC%20with%20your%20state.
@@ElizabethPW Thank you for taking the time to reply and the info!!
Do you have a video that goes over what a LLC registered/created in another state needs to do in order to do business with a company in CA?
No -- it depends if you doing the work in person or just virtually
Virtually
Your videos are always very informative. Thank you.
welcome!
Hi do you have a video regarding the government filings for corporations and s-corps?
No, but I'll add that to the list!
Hi. so the initial fee is just for filing ($70 California) but the $800 starts after completing first year of existing and then annually, right?
Yes the $800 is *for* the first year but most people pay it when they file the tax return
Hi, I submitted my LLC filing (CA) last week. They don't really disclose how long the review & approve time takes. So, I was wondering if I can move forward with the next steps? I'd like to trademark as well. Then on to the EIN, FBN, and then City filings and obtain a business bank account. I feel like I really do need to wait until my LLC filing is "approved'' to move forward. My LLC filings has the word "and" but, my logo was created using "&". I assume I need to register a DBA as well? For example xxxx & xxxx. Excluding the "and" and "LLC"
Here are the current processing dates www.sos.ca.gov/business-programs/business-entities/processing-dates Yes I'd wait until it is approved, just in case something needs to be fixed
Thank you for explaining. Is the annual franchise fee only for S, C corp and LLC type? What is the fee for sole proprietor? Is it the same?
There is no $800 franchise fee for sole proprietorships!
@@ElizabethPW thank you. Do I need a sellers permit in CA for items selling via ebay? ship out to other states?
Hey Elizabeth, I saw your address is in SF, so I hope you can help with this very specific question. So, I have a single-member LLC (disregarded), registered in CA. Do I neet to also register my business with the city of SF? I'm writing/selling software online; no restaurant, office, or physical location (just me in my apartment, and I do live/work in SF).
Generally SF wants anyone who "engages in business" in SF to register. I'd expect that they'd want a home business to register. Now I don't think they really investigate to see who is registered, but that doesn't mean they won't do that in the future. The fee for a biz making under $100K gross a year is $44 or $54, so not a large fee.
@@ElizabethPW Thank you for the reply! As a newbie to this type of thing, it's so hard to find good, concise, and legit information. Thank you for all your videos, really great stuff!
My LLC was registered in 2022 but I need to change to an S-Corp. Is it to late?
You can change it to an S Corp. If you want to "back date" it to 2022 then you need to file the "late" election - I talk about it in this video ua-cam.com/video/-CXGILTIGmI/v-deo.html
You did well. If my LLC is I. California bu I'm in Georgia do u file those things in Georgia or California including business license and tax certificate. Also what steps to take to get the 800$ first year waiver and when is the 800$ due if I haven't made any money am I required to pay that 800$ fee. Is the 800$ required every year or is it a one time fee
Georgia has different requirements (there's no $800/year fee there). Here's an article about Georgia's LLC requirements: www.nolo.com/legal-encyclopedia/annual-report-tax-filing-requirements-georgia-llcs.html
You miss understood me my LLC is in California but I love in Georgia what state do I file taxes with. Whe I'd the 800$ due in California
If the LLC is formed in California, it has to pay the $800 fee in California (the first calendar/tax year is free as of right now, but that law expires soon). Then for everything else, it depends on where the business is actually located / doing business - it might need to also file in another state if it is doing business there.
Hi Elizabeth, please help me. I filed and LLC per advice of a friend just to potential make a vintage business later in the year. Because of my little knowledge I just paid LegalZoom to make me an LLC but I have no accounts not employees not even an idea of when I’m starting my business, I thought getting my EIN would ensure I’d be ok if I later chose to use it. I just paid LegalZoom to dissolve my LLC because I got a “labor law” page to pay fees because LegalZoom put I have 1 employee and I have days to pay, yet like I said I have no business/employees. How do I avoid any penalties, I didn’t keep my LLC even for 2 weeks. I don’t want to be charged for fees I shouldn’t pay. Can you help please
If you had the LLC for a very short amount of time (less than 2 weeks) then you should not have to pay franchise fee (the $800/year tax). Also the labor law might be the "posters" and those are not required anyway. You would not owe employment taxes until you reported that you hired your employee (it is a separate filing from creating an LLC)
How about nonprofit LLC? What are the fees ?
I don't handle non--profits
Can you do the same video except for an s-corp?
That's on my list, yes I will be doing that
Thank you for the information, I formed my LLC via Incfile /bizee, and my LLC formation date is 12/27/23 - my intention was to start my LLC on Jan 1st 2024, do I need to pay $800 tax for the year 2023 for those few days? Also do I need to file the Statement of information via Bizee and pay $119 or can I just file that by myself and pay $20 instead? Thank you so much in advance for your valuable advices.
No there's a special rule for less than 15 days if you are not operating. You can probably file the SOI yourself
@@ElizabethPW Thank you so much for the valuable information :) I appreciate it.