Printer Friendly
The Free Library
4,482,425 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

LLC fees unconstitutional? File a protective claim.


The Superior Court of California has issued a proposed ruling stating that California's levy on limited liability companies (in Rev. and Tax Code Sec. 17942) is unconstitutional.

CalCPA anticipates that the issue will be appealed to the U.S. Supreme Court. However, should taxpayers eventually prevail, there is the opportunity for refunds of fees originally paid.

[ILLUSTRATION OMITTED]

For FTB guidance on filing a protective claim, visit www.ftb.ca.gov/professionals/taxnews/articlel/lcfee.html.

Download the Superior Courts decision at www.calcpa.org/members/knowledge/statetax.htm.

COPYRIGHT 2006 California Society of Certified Public Accountants
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:limited liability companies
Publication:California CPA
Article Type:Brief article
Geographic Code:1U9CA
Date:May 1, 2006
Words:89
Previous Article:California registered domestic partners must file separately.(IRS Update)(Brief article)
Next Article:Final standard on certain hybrid financial instruments.(Financial Accounting Standards Board)(Brief article)
Topics:



Related Articles
Tax aspects of limited liability companies: is the LLC a state-of-the-art entity? (includes related article on accounting firms organizing as limited...
Law favors reorganization of real estate holdings. (New York State and limited liability corporations)
Look before you leap: are LLCs right for you? (limited liability companies) (Column)
It's important to understand the benefits of new limited liability law. (Personal Finance) (Column)
Limited liability CPA firms: an attractive choice.
Proposed regulation classifies LLC members for self-employment tax purposes. (limited liability companies)
Check-the-box final regs. simplify entity classification.
IRS' new ownership policy can offer savvy owners a tax break.(Brief Article)
LLC and LLP issues for small, privately owned businesses.(limited liability company, limited liability partnership)
Converting a sole proprietorship into an LLC.(limited liability company)

Terms of use | Copyright © 2008 Farlex, Inc. | Feedback | For webmasters | Submit articles