| Annual Minimum Tax (Companies doing business in California) |
$800 |
$800 |
$800 |
$800 |
| Types of Business Purposes |
Any |
Any |
No Business where a professional license issued by the State of California Except Insurance Agents |
Generally family owned businesses or Real Estate or Securities holdings |
| Tax Structure |
Double taxation |
Similar to Partnership- Pass through to individual shareholders |
Similar to Partnership- Pass through to individual members |
Similar to Partnership- Pass through to individual partners |
| Separate Tax Return |
Yes |
Yes- Informational |
Yes- Informational |
Yes-Informational |
| Annual Registration Fee |
$25 |
$25 |
$20 |
$25 |
| Limited Liability for Officers/General Partners/Managers |
Yes |
Yes |
Yes |
No – General Partner remains fully liable for all debts and obligations of the Partnership, therefore usually you also need to form a special purpose corporation to act as General Partner. |
| Limited Liability for Shareholders/ Limited Partners and members |
Yes |
Yes |
Yes |
Yes |
| Annual Minutes Required |
Yes |
Yes |
No |
No |
| Discounted Gifting Avail. |
No |
No |
Yes |
Yes |
| LLC Fee (CA Only) |
None |
None |
Gross Rev Fee:
$250,000 – $499,999
$900
$500,000 – $999,999
$2,500
$1M – $4,999,999
$6,000
$5M + |
None |
