OK LLC with an S-Corp election filed as a CA Foreign LLC on Dec 17, 2021. No business in 2021, in 2022 the only revenue transaction was a single CA transaction and the entity ended 2022 with a loss. Using TurboTax Business I prepared and filed my CA 100S form. There was no tax liability shown on the 100S so I assumed the $800 would show up on my personal CA state return (540NR). I haven't filed the 540NR but there is no mention of the $800 franchise tax/fee so I contacted the CA Franchise Tax Board and they told me I should have paid my $800 annual Franchise Tax with the 100S filing. Where did I or TurboTax go wrong?
it might be simpler to pay California directly on its website, at least for this year. Turbo Tax may think this is the first year the LLC is in existence.
It depends. According to this State of California source, A corporation that incorporates or qualifies to do business in California is exempt from paying the minimum franchise tax in its first taxable year.
If your first taxable year for your LLC is for the 2022 tax year, then the $800 is exempt.
it might be simpler to pay California directly on its website, at least for this year. Turbo Tax may think this is the first year the LLC is in existence.