Episode Synopsis "You don’t have to dissolve a California entity by December 31"

This week we’re discussing the common misconception that a California entity needs to be dissolved by December 31 to avoid the $800 annual tax from accruing for the following year.

Listen "You don’t have to dissolve a California entity by December 31"

More episodes of the podcast Spidell's California Minute

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• Tips for filing Form FTB 3840
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• EDD is auditing loan-out corporations
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• MyFTB multi-factor authentication coming soon
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• Property tax increases for partial transfers
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• Bill would ease passthrough entity tax prepayment requirement
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• Improvements made to MyFTB account
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• Key nonconformity issues for 2023 returns
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• Some older POA declarations set to expire December 31, 2023
• Annual tax exemption expiring in 2024 for certain entities
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• Going from a SMLLC to a multimember LLC (or vice versa)
• October 16 storm-related postponement traps to watch out for
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• New business personal property form for short-term rentals
• When do you need to file Form FTB 3840?
• What to do if an LLC filed a partnership return
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• How to respond when clients call about the new California Paid Sick Leave grants
• FTB continues their outreach letter campaign
• Passthrough entity tax elections and superseding returns
• Know the filing requirements when exchanging California property
• Storm postponements delay June 15 payments
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• California’s one-time penalty abatement program is now live
• How to minimize the impending SDI tax increase
• More information on the October 16 disaster postponement
• SECURE 2.0 Act conformity issues
• How to become a California nonresident
• Dissolving unused entities
• FTB’s City/County tax information sharing program
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• Middle Class Tax Refunds aren’t really tax refunds
• SDI wage base cap eliminated starting in 2024
• June 15 passthrough entity tax prepayment: fiscal year taxpayers, new entities, and more
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• Base-year property transfers got a whole lot easier under Proposition 19
• Are California’s Middle Class Tax Refunds subject to federal tax?
• FUTA taxes will increase in January
• Should an entity make additional passthrough entity tax payments before the end of 2022?
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• FTB is sending out “education” letters
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• New unclaimed property questions on California tax returns
• Tax basis capital account reporting
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• Watch out for erroneous passthrough entity tax refunds
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• Mismatched and unclaimed real estate withholding
• Surprise ruling regarding nonresident sale of partnership interest
• Emergency Proposition 19 rules adopted for parent–child transfers
• Emergency Proposition 19 rules adopted for parent–child transfers
• Payroll tax increases coming in January
• Budget bill provides some tax relief
• Budget bill provides some tax relief
• Passthrough entity elective tax and nonresident withholding
• Top reasons for e-file rejections
• Proposed Secure Act 2.0 legislation
• EDD worker classification audits