Based on this answer in this thread it is clear to me that my LLC owned by husband wife in the state of CA (a community property state) will be treated as disregarded entity, so we should continue to file as before the LLC was formed (show rental expenses and income on schedule E of our joint federal and CA returns).
Questions
1. For Federal, are there any other obligations for the LLC (e.g., do we need to file schedule K-1/form 1065)?
2. For CA, other than paying the business tax (FTB) dos the LLC have any other tax filing obligations? (we will still file our CA state return).
