$54.99 per state.
$54.99 per state.
To purchase your TurboTax Business State program, first prepare your federal taxes in TurboTax Business.
Once you've completed the federal error check, you'll move on to the State Taxes section where we'll prompt you to download your state (you can also download at any time by choosing Download State from the Online menu in TurboTax).
TurboTax Business State is not available on a CD or as a stand-alone program.
Related Information:· Which states are not supported in TurboTax Business?
· State forms availability for TurboTax Business
$54.99 is correct. Just know that even though TT Business 2019 stays that it will be $49,99 they will charge you $54.99 plus tax.
I have five federal licenses with one cd purchase. If I add a state can I use the same state for all 5 businesses or do i need to pay $55 for each time I file that same state for various businesses? I have five businesses in NY and I can file all five businesses using turbotax business cd. I need to pay $55 for NY state. When I am preparing state taxes for other 4 states do I need to pay each time ($55 x 5 times)?
I purchased TurboTax 2019 Business for my multi partner LLC and my S Corp.
I reside in AL, so when I completed my Fed LLC return, I purchased the AL State software, for the $54.99 as others have stated.
My question is when I proceeded to do my S Corp, why did I have to purchase the AL State software again?
I assumed since the Turbo Tax Business did multiple partner LLC and S Corp and you can do several of these,) I would not need to purchase the Turbo Tax AL state software again so i could do my AL state S Corp return.
However, I had to purchase the AL state software again to do my AL state S Corp, even after purchasing the AL state software to complete my AL state LLC return.
Should I have had to purchase the AL state software twice to do the LLC and S Corp returns?
The federal program has the ability to file different business entities however the state software is entity specific ... so you needed one for the partnership and one for the corp.
Preparing state tax returns for more than one business?
When they are the same types of businesses (such as two S Corps) and file taxes in the same state, buy one state product $54.99 and use for all at no extra charge. Business State efile included.
When they are the same types of businesses (such as more than one LLC), but file taxes in different states, buy one product per state for $54.99. Business State efile included.
When they are different types of businesses (such as an S Corp and a partnership) and file taxes in the same state, purchase one product for each business type for $54.99 per each business type. Business State efile included.
I have tb business CD in my pc, for my llc -partnership, I am in California, to file state i have to pay $54 for each filer?. this means, if my family members files another llc and files california, pay another $54.. reply
hello, is this is for each filer or one time fee? my son will use it for his llc too and state?
There are two different costs associated with state returns using TurboTax.
First, there is the cost to download each state return. This is ~$55 per state as far as I know but some states may have a different cost. Some TT versions include one state with your purchase cost. If your version does not include a state or you need more than one state, as I do, then you have to pay that the $55 cost for each state downloaded. This lets you transfer information from your federal return to the state return and then do all the state specific things to create a return for that state. You can use a downloaded state return for multiple filers without paying again for each additional filer in that state.
The second cost is to e-file your state return. This is charged for each e-file for each state. Even though you paid to download a state file, that only lets you create a return. It does not allow you to e-file it, that is an additional cost. Depending on your state you may be able to print your return and file it for free or copy the information from TT into a state provided web site to file on-line for free.
For example, I have two corporations. Both corporations do business in Massachusetts and one also did business in New Jersey. I had to pay $55 to download the MA forms and $55 for the NJ forms. I was able to complete the MA return for both corporations without an additional payment.
BUT, if I wanted to e-file the MA returns for both corporations I would have had to pay again for each corporation to e-file. That would have been three e-file fees, two to MA and one to NJ. I chose to print and mail them for free to MA. NJ requires e-filing so I had no choice for that return.
Hope this clarifies the way TT charges. This information is valid for last year's returns as I have not filed my 2020 returns yet but I expect that it still works this way
I am a bit confused about selecting state returns. As a Delaware Corporation doing business in Missouri, I am trying to file Missouri state return. But when I am adding states, the drop down list says "Delaware Corporation", "Missouri Corporation", etc. Am I supposed to choose "Missouri Corporation" to do Missouri state return even though I am filing for a Delaware Corporation? Thanks in advance for help.
Yes, you are correct. You would need to add Missouri Corporation from the drop down list and follow the questionnaire completely to ensure the system knows you are a Delaware Corporation doing business in MO. It would have been on the Federal questionnaire that you would have identified the "home state" of the Corporation (Delaware).
I can't seem to find where I should indicate the "home state" of corporation (incorporated in Delaware). Is the "Federal questionnaire" the first section called "Business Info" before the "Federal Taxes" section? It asked for the mailing address and "primarily doing business in" but not the home state. Thank you for your help.
It's wayyyyy too much, avoid turbo tax at all costs. They charge for crappy software and for filing. It's cheaper to hire an accountant once you factor in your time by far!!!
@cph0001 It is hard to imagine a paid preparer charging you less than $200 to prepare a federal and state business tax return, so it would seem to be less expensive to use TurboTax to prepare your business tax return.
I don't have specific knowledge of your states but I have a Delaware corp that is doing business in Massachusetts and I need to file as a "foreign" corp. This has nothing to do with being in the United States. In the context of the MA return any business not incorporated in MA is a foreign corp.
You may need to specify something like that to get to the place where you enter Delaware as the home state of the corp. If it doesn't know yours is a "foreign" (or whatever term they use) corp than it may not ask. There may even be a different set of forms required for a non-resident corp so be sure you are using the correct forms.
It would not be less expensive to have a paid preparer do your returns but it is much less aggravation. My wife routinely questions why I spend so much time fighting with TT when it screws up.
TT still fails in the most basic rule of accounting - do all calculations using two decimal places (pennies) and round the result to the dollar for entry on the tax form. TT rounds all the data first and then calculates the entry, which is virtually guaranteed to cause a rounding error. My Income Statement and Retained earnings from Quickbooks never matches what TT calculates using its flawed method. Overs the years I've learned how to make adjustments in QB that don't affect my real earnings but make QB match TT and let the program continue. In addition, TT still can't import my payroll properly from QB and I have to enter it all manually. It also can't correctly apportion my income between states without my manually loading an additional form and my filling it out in forms mode.
With a professional, you don't have to know all the things that TT asks you that you have no idea about. "Do you have any state corrections?" Hey, if I knew that I'd be a tax pro! I pay for TT to either know what they are or list them a choices like they do with many other functions. Don't depend on the user to know what they might be!
With two corporations and a trust I suspect my bill would be significantly more than the cost of TT. I mail paper instead of paying for e-file when possible to save $. But if the difficulty of fighting with TT to do things correctly increases I may have to rethink my decision.