Friday, August 12, 2011

Business types and tax.?

It sounds like you are asking about the California Franchise Tax Board minimum fee for an LLC. The total fee is based on gross sales. If you have a high volume low gross profit business like a grocery store or gas station, you are going to get nailed. Stick with being a sole prop until you see how things are going, then consult a tax professional about what you should conver to, or not.

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