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Level 2
March 29, 2021
Question

California state tax form 540 and form 568

I have just formed my LLC with single member. I was wondering that when I file my state tax return do I need to file both form 540 and form 568 to the state of California? However, as I knew, Turbotax does not allow us to e-file the form 568. Does it also affect the form 540 too? Does anyone have any suggest that has any other tax software allow us to e-file the form 568. Thank you 

12 replies

Alumni - Intuit
March 29, 2021

Your state income tax return is the CA 540.  That will be filed electronically. 

 

TurboTax allows you to prepare Form 568 to print and mail into the California Franchise Tax Board for your LLC.

Level 2
March 29, 2021

dose Turbotax allows me to generate two form 568?

Alumni - Expert
March 29, 2021

Yes.

 

Your main input will be generated in the federal interview section of the program.  If you have two single member LLC's, you will have two different businesses reported on your federal return.  When you reach your state return, you will be asked about each business and whether they are single member LLC's or not.

 

After you have completed your input in the federal section of TurboTax, you can review your input in the state section of the program as follows to generate both 568 forms.

  1. Select State in the black panel on the left hand side of your screen when logged into TurboTax.
  2. This will take you to a screen titled Let's get your state taxes done right.  Click continue on this screen.
  3. You will see the following screen titled Status of your state returns.  Select Edit to the right of California.

State entries

 

Proceed through the screens until you see the state asking questions about your business.  When you see the screen titled Business Summary, be sure to select Edit so you can generate the LLC filings for both 568 forms for each of your businesses.

 

Single member LLC prompt

 

The following screen will ask you if your business is owned by a single member LLC?.  Be sure to select Yes to generate the LLC classification on your state tax return.

 

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