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How to Fill Out California Form FTB 3522:
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Do I have to pay California's 800 franchise fee for my LLC Amanda here from the business finance coach where I'm simplifying accounting taxes and business planning if this sounds like something you're interested in you can subscribe to my YouTube channel while still watching this video by clicking the watermark in the bottom right corner of your screen back to the California Franchise Tax fee of 800 so do you really have to pay this fee you can see the state website behind me, you just search ftbcagov, and you can just search FT 800 LLC California and up will come the links for this site it does sound a little confusing as you'll see in this graph here where they talk about the annual California fee, and then they talk about incomes greater than two hundred and fifty thousand dollars now just to verify I actually called and spoke to the state and part of why this is confusing is because there are two fees or taxes that apply to your LLC if you have an LLC in the state you have to pay the 800 franchise tax fee every year everyone really pays the 800 fee for any LLC formed in the state the second aspect is if you have an annual LLC fee which is in addition to that 800 fee which you pay every year as long as the income is less than 250000 in your business you don't have to worry about an additional tax but once your gross income sales goes above 250000 then you will have an additional tax to pay to the state of California the next thing I want to show you is the amount of that additional tax here we are in the instructions and this is where you'll see the amounts of the second feed two hundred fifty thousand to four hundred and ninety-nine nine nine nine a dollar short of five hundred thousand pay 900 five hundred to a million right before a million pay twenty-five hundred dollars a million to almost five million pay six thousand dollars and then the next bracket over five million pay eleven thousand seven ninety like many things taxes you know it's like the person making 1 million is paying the same as the person making four point five million, so you know is it fair I don't know but regardless this is the tax for California, and then you can see that they give an example down here, and they go through for each business the annual tax which is that eight hundred dollar fee plus the LLC fee, so the annual tax is eight hundred and the LLC fee is based on if you earn more than two hundred fifty thousand and your income, and so I know that that's a little confusing I'd love to hear any questions you have in the comments below if you enjoyed this video let me know otherwise subscribe I'll see you next time have a beautiful day bye
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