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Level 1
April 6, 2020

California consolidated tax returns

  • April 6, 2020
  • 1 reply
  • 2 views

I have a C corporation parent which owns two other C corporations and two single member LLCs.  What is the proper filing for these entities in California?

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    1 reply

    sjrcpa
    Level 15
    April 6, 2020

    Unless the SMLLCs made an election to be taxed as corporations, their activity gets reported on the parent C corporation return.

    How are the parent and 2 subs reporting for federal? Consolidated or separate? I'm thinking CA would follow fed, but I don't practice in CA and am not sure.

    The more I know the more I don’t know.