Hey all.
Very confused by California's minimum franchise tax and C-Corp election and how this is handled by Turbo tax.
I have a California LLC that has elected to be taxed as a C-Corp. First year profitable in 2021. Does Turbo tax automatically account for the minimum $800 franchise tax when calculating the total tax due, or is this a separate tax?
I really can't figure out why this is not clearly documented with the state or with Turbo tax.
TIA.
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