Required Annual, Quarterly, and Monthly Filings for California LLCs

📋California LLCs must file a Statement of Information every two years, which includes basic information about the LLC.

💰LLCs in California need to file tax returns and pay an $800 yearly franchise fee, regardless of profitability or activity.

💡Quarterly tax deposits may be required for LLCs that are generating income, while 1099s are necessary if hiring independent contractors.

📝Local business licenses or tax certificates may also be required, with renewal typically on an annual basis.

💼Engaging a professional such as an accountant, bookkeeper, or payroll provider can help navigate the complexities of LLC filings.

How often do I need to file the Statement of Information for my California LLC?

—LLCs in California must file the Statement of Information every two years after the initial filing. The due date is based on the month the LLC was formed.

Do I need to pay the $800 franchise fee for my California LLC if the business is not profitable?

—Yes, the $800 franchise fee is required for all LLCs in California, regardless of profitability or activity level. However, there may be exceptions in the first year of operation.

When are quarterly tax deposits necessary for California LLCs?

—LLCs in California may need to make quarterly tax deposits if they are generating income. The frequency and amount of the deposits depend on various factors, including other taxes already being paid.

What are the penalties for not filing 1099s for independent contractors?

—Failure to file 1099s for independent contractors can result in penalties from the IRS. The penalties vary based on factors such as the length of delay and the number of incorrect or missing forms.

How often do I need to renew my local business license or tax certificate?

—The renewal frequency for local business licenses or tax certificates varies depending on the jurisdiction. In most cases, it is on an annual basis, but it's important to check the specific requirements for your area.

00:00Attorney Elizabeth Weinstein provides an overview of the required annual, quarterly, and monthly filings for California LLCs.

01:11LLCs in California must file a Statement of Information every two years, providing basic information about the LLC.

01:32All California LLCs are required to file tax returns and pay an $800 yearly franchise fee, regardless of profitability or activity.

03:45Quarterly tax deposits may be necessary for LLCs generating income, and 1099s are required for hiring independent contractors.

06:14Local business licenses or tax certificates may be necessary on an annual basis, with renewal requirements varying by jurisdiction.

08:13Engaging a professional, such as an accountant or payroll provider, can help navigate the complexities of LLC filings.