I formed my DBA into a Single Member LLC as of November 2022.
According to this page on the Franchise Tax Board (https://www.ftb.ca.gov/file/business/types/limited-liability-company/index.html - the following is copied directly from that page):
Exceptions to the first year annual tax
For tax years beginning on or after January 1, 2021, and before January 1, 2024, LLCs that organize, register, or file with the Secretary of State to do business in California are not subject to the annual tax of $800 for their first tax year.
Am I correct in interpretting this to mean that I do NOT have to pay the $800 or file the 568 at all with my 2022 taxes?
And that my first filing will be by April 15th 2024 for my 2023 taxes, correct? (It says: "Return due date-
15th day of the 4th month after the close of your tax year.")
I'm not sure how you would interpret that any other way, but a confirmation would ease my mind. 🙂
Thank you!
