You should make a formal, written agreement with any other members as part of setting up your LLP. This sets out how the LLP will be run.
To form a California LLP, partners are required to file an Application to Register a Limited Liability Partnership with the Secretary of State (SOS).
If you’re an attorney, you need to register your LLP with the California State Bar once you receive approval from the SOS.
LLPs do not pay income tax but they are subject to the annual tax of $800.
Your return is due the 15th day of the 3rd month after the close of your taxable year.
For more information visit Due dates for businesses.
You are required to file Partnership Return of Income (Form 565) if you are an LLP that:
Visit 565 Partnership Tax Booklet for more information
Each partner is responsible for paying taxes on their distributive share. Use Partner’s Share of Income, Deductions, Credits, etc. (Schedule K-1 565).
The LLP has no estimated tax requirements. However, partners may have to make estimated tax payments on their personal income tax returns.
Limited liability partnerships are not subject to the annual tax and fee if both of the following are true:
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