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You also need to file a California Form 568 tax return with the Franchise Tax Board and pay the $800 annual tax whether or not you have any income, or you get a big fine that increases every month you don't file... Ask me how I know :)
> pay the $800 annual fee whether or not you have any income Really? In the 2 states I've lived in, there is no annual fee for LLC's. I'm curious what the reasoning behind having a fee that large is.
You also need to file a California Form 568 tax return with the Franchise Tax Board and pay the $800 annual tax whether or not you have any income, or you get a big fine that increases every month you don't file... Ask me how I know :)
> pay the $800 annual fee whether or not you have any income Really? In the 2 states I've lived in, there is no annual fee for LLC's. I'm curious what the reasoning behind having a fee that large is.
Why would you want to as opposed to Delaware?
You may also need a registered agent for "Service of process". Costs $100 per year. Without it you risk default judgement in case of a lawsuit. https://www.legalzoom.com/articles/what-is-an-agent-for-serv...
You can just use your personal mailing address and check it for mail.
The actual corporation or LLC being formed, however, cannot name itself as its own Registered Agent.
You also need to file a California Form 568 tax return with the Franchise Tax Board and pay the $800 annual tax whether or not you have any income, or you get a big fine that increases every month you don't file... Ask me how I know :)
how do you know ?
You also need to file a California Form 568 tax return with the Franchise Tax Board and pay the $800 annual tax whether or not you have any income, or you get a big fine that increases every month you don't file... Ask me how I know :)
how do you know ?
I forgot to file one year (still paid the $800 on time) and got hit with a $500 fine that there was no way around.
That LLC made -$1300 that year.
Why would you want to as opposed to Delaware?
If you're in California, they will get their $800 regardless. It doesn't matter where you create the LLC, California has a minimum $800 tax on it.
California law is convoluted and Californian courts slow. That makes doing almost everything with a California LLC more expensive than with a Delaware LLC.
The only reason to form a California entity is if you’re doing business with the state.
Earlier quoted context omitted.
Piercing the veil can occur for many different reasons, including some as simple as improperly kept notes of annual meetings. Consult with a lawyer to be sure every formality is followed.
This is incorrect. In California at least, LLCs do not need to hold annual meetings.