Skip to main content
Level 1
April 22, 2020

California Franchise tax prorated for short year?

  • April 22, 2020
  • 3 replies
  • 23 views

My CA LLC which is treated as an S-corp dissolved at the end of February.  Will they need to pay the entire $800 CA franchise tax when filing the final year return, which only covers 2 months?

    This topic has been closed for replies.

    3 replies

    George4Tacks
    Level 15
    April 23, 2020
    YES.
    Answers are easy. Questions are hard!
    abctax55
    Level 15
    April 23, 2020

    Actually, I'd say 'no', depending on which one of the questions is being answered (the header q, or the q in the body)

    HumanKind... Be Both
    Intuit Community Champion
    April 29, 2020

    See the attached links which addresses your question on short period Calif franchise tax:

    https://www.ftb.ca.gov/forms/misc/1060.html

    https://www.ftb.ca.gov/file/business/types/corporations/s-corporations.html