California state Form 568 for Limited Liability Companies. This tax form is basically treated as an income return for LLCs in California. All LLCs must file Form 568 even the single-member LLCs (SMLLC). Form 568 accounts for income, wages, withholding, and more of the LLC.
The same as the federal income tax returns, the Limited Liability Companies are required to file Form 568 by April 15. Again – the same as the federal income taxes – an extension can be requested for extra time.
One thing to know about Form 568 is that all LLCs are required to pay an $800 annual tax. This is a fixed tax that all Limited Liability Companies required to pay. As someone who operates a business in California, make sure to pay this tax by April 15.
Form 568 Payment Due Date
Aside from the $800 fixed tax, you are required to pay your state income taxes by April 15. You can find out how much you owe in state income taxes for your LLC by figuring out taxable income and calculate tax liability according to California income tax brackets.
How to pay California taxes?
The California Franchise Tax Board accepts payments online. You can pay using your bank account, credit card, or set up a payment plan for both individual and business taxes. You can get to the following pages to pay taxes on FTB.
To apply for a payment plan, call the Franchise Tax Board by dialing 1-916-845-7166.
One side note: there is a processing fee for payments made with credit cards. The processing fee is 2.3 percent of the payment. So if owe $1,000, you will pay $1,023.