Legal Question in Tax Law in California
Tax for a closed business
If I opened a LLC for like a week and shut it down. Do I still have to pay for the $800.00 tax in california? If I don't what will happen? It's a single member LLC. I also never sold anything with this business. It had no business or profits.
2 Answers from Attorneys
Re: Tax for a closed business
If you did not actually file the initial documents with the Secretary of State, there is less likelihood of you owing the tax. If you did, and were actually able to open and dissolve your LLC within one week, there is a greater chance. You should contact a CPA to discuss the ramifications of this. You should also consider contacting the California State Franchise Board to get some more information.
Good luck!
Re: Tax for a closed business
Further information I neglected to add before hitting send is that generally, if you did no business in California, and its taxable year was 15 days or less, you may not owe the $800 annual tax. Please confirm with a tax professional to ensure you comply with these requirements.
Good luck!
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