Limited Liability Companies in California are required to file Form 568, Similar to other California income tax returns, Form 568 isn’t updated every year. The latest revision of the form came in 2015. The instructions to file Form 568 since then can be still used for the 2021 tax season.
The state of California follows the Internal Revenue Code changes but not all the changes that are effective at the federal level are effective at the state level. California Franchise Tax Board doesn’t bring all the tax changes that can affect Form 568 right away. The changes are usually optimized for the state.
Visit the Franchise Tax Board of California to see the instructions to file Form 568 – Limited Liability Company Tax Booklet.
Click here to view Form 568 instructions to file.
After the Tax Cuts and Jobs Act of 2017, there have been significant changes to the federal income taxes as well as to the state income taxes. The change in 2018 didn’t bring significant changes to the California taxes but Form 568 had remained the same. From 2018 and onwards (potentially until 2025) Form 568 will stay the same.
If any further changes happen on Form 568 for California LLCs, our instructions to file as well as the form itself will be updated. Until then, the above instructions are relevant to the 568 an LLC will file in future tax seasons.