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haotracy2019
Returning Member

I live in Nevada and have LLC elected as S Corp running business in CA, besides the 1.5% franchise tax, do I need to make quarterly estimated income tax for CA?

 
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KristinaK
Employee Tax Expert

I live in Nevada and have LLC elected as S Corp running business in CA, besides the 1.5% franchise tax, do I need to make quarterly estimated income tax for CA?

Possibly. You must pay a CA minimum franchise tax of $800 by the 15th day of the 3rd month after the close of your tax year (usually March 15th). 

 

Then, if your CA taxable income exceeds what that minimum $800 covers, you must pay other estimated tax payments. 

 

Here is some more information about it.

 

Remember, there is also a Statement of Information that must be filed with the CA Secretary of State. 

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