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State tax filing
Yes, because your company was still a partnership at the end of 2022, file a final California Partnership return Form 565 this year. To do this, during the California state interview in TurboTax Business, on the page "About Your Business," check the box for "Is filing its final California return." Because you were in business during 2022, you will need to pay the Franchise Fee for the year.
You should also file the Conversion request (which you can do online) to report the change in ownership. Next year, you will file California Form 568 as a single-member LLC (read more here: California Single-member LLC). TurboTax will prepare this form for you when you include the business on Schedule C of your personal 1040 tax return.
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March 14, 2023
7:43 AM