Over the past few weeks I’ve been writing about how you can manage your LLC. Now, LA Times is reporting that the State of California is now cracking down on LLCs that have not been compliant in its forms and paying taxes and fees.
According to the article, LLCs face suspension if:
- they didn’t file state income returns;
- didn’t pay income fees owed;
- didn’t pay the annual $800 LLC tax; or
- didn’t file the biannual statement of information.
If your LLC is suspended, then:
that a company loses the right to its name and its ability to sue or be represented in court, its contracts are unenforceable and it cannot legally do business in California, according to the Franchise Tax Board, the state tax agency.
So, make sure you’ve paid up and your paperwork is in order! If you need help, seek the assistance of an attorney that can get you updated and compliant with your finances and paperwork.
Related posts:
- Bringing in Partners to your LLC
- California Limited Liability Annual Tax for 2009
- A Corporation or Limited Liability Company Can Help You Get Business and Make More Money
- That Official Looking Letter from the CA Secretary of State is Not So Official
- You Can File Your California Corporation’s Annual Statement of Information Online
