In California, does the $800 annual tax payment, d...
Returning Member

In California, does the $800 annual tax payment, due in Q1, count toward the 1.5% tax liability for S-Corps? Or, is it in addition to the 1.5% tax rate?

As my California S-Corp grows more profitable, I want to understand how this 1.5% CA tax is assessed, and whether it's on top of the $800 annual minimum.  Am I right in concluding that the $800 minimum (when divided by 1.5%) covers the first $53,333 in net income?

If so, then anything over $53,333 gradually increases the liability above $800 by 1.5%; correct?

Thanks!

This widget could not be displayed.
Privacy Settings