Business Tax Returns — Los Angeles

Businesses operating in California face a distinct set of tax obligations at the state level, including the franchise tax, the $800 annual LLC minimum tax, and the state’s own pass-through entity elective tax. Reed Corporation prepares business tax returns for S-Corporations, partnerships, LLCs, and C-Corporations operating in Los Angeles and throughout California.

What’s Included

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S-Corporation Returns (1120-S) — Federal Form 1120-S and California Form 100S with shareholder K-1 preparation.
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Partnership Returns (1065) — Federal Form 1065 and California Form 565 with partner K-1 allocation schedules.
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LLC Returns — California Form 568 for LLCs, including the annual LLC fee calculation based on total income.
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C-Corporation Returns (1120) — Federal Form 1120 and California Form 100 with applicable credits and deductions.
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California PTE Elective Tax — Analysis and filing of California’s pass-through entity elective tax for qualifying entities.
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Franchise Tax Compliance — Annual minimum franchise tax payments and annual report filings with the California Secretary of State.

Business Tax Returns in Los Angeles

California’s business tax requirements include several provisions that catch business owners by surprise. LLCs owe an annual minimum franchise tax of $800 regardless of income, plus an additional LLC fee based on total California income that can reach $11,790 for high-revenue entities. S-Corporations pay a 1.5% tax on net income at the state level in addition to the shareholders’ personal income tax on their K-1 distributions.

Reed Corporation evaluates each client’s entity structure in the context of California’s specific tax rules. We analyze whether an S-Corp election, a change in entity type, or the PTE elective tax would reduce your overall tax burden, and we handle all California-specific filings accurately and on time.

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