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California Business Taxation

2 CA Tax Law Hours

$89.00

California taxes business entities in ways the federal return never does. An S corporation pays 1.5% of its net income. An LLC owes the $800 annual tax and, once its California income reaches $250,000, a separate LLC fee. An out-of-state company can owe California tax without an office or employees in the state.

In this course, we’ll cover the franchise tax, the minimum and annual taxes, and the LLC fee. Then we’ll look at when an entity is doing business in California, and at how P.L. 86-272 and throwback apply to companies selling across state lines. We’ll also review due dates and late-filing penalties, the elective pass-through entity (PTE) tax, apportionment, Schedule K-1 reporting and nonresident withholding, and the sales and use tax rules businesses run into most often.

This course will give you a working knowledge of California business taxation for clients coming into the state and clients selling out of it.

$89.00

Gain a working knowledge of California business taxation for clients coming into the state and clients selling out of it.

Learning Objectives

1. Identify the entity-level taxes California imposes on corporations, S corporations, LPs, LLPs, and LLCs, including the $800 minimum and annual tax and the LLC fee.

2. Determine when an entity is doing business in California and when P.L. 86-272 protects an out-of-state seller from income tax.

3. Identify California return due dates, late-filing penalties, and the rules for electing and paying the PTE elective tax.

4. Explain how California apportions business income and how entities report California amounts and nonresident withholding to owners.

5. Recognize when a business must collect California sales and use tax, including the $500,000 economic nexus threshold.

Course Numbers

CTEC

  • 1008-CE-01212