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Beginning January 1, 2009, California employers with less than 20 employees may be able to take advantage of a $3000 Jobs Tax Credit for each new full time employee hired if the eligibility requirements discussed below are met. The jobs tax credit can be claimed on a 2009 personal or business tax return, and is $3000 for each additional full-time employee hired. An employer will not qualify for the credit unless there is a [...]
If your California LLC engages in business both in the state of California, and outside the state, it is probably entitled to a partial refund on its previously paid Annual Gross Income Tax.
Back in March of 2007, I advised you on how your limited liability company (LLC) should file a Protective Refund Claim for the years 2003 to 2007. I advised all California LLCs who engaged in interstate sales to send a letter signed by a managing member to the Franchise Tax Board (FTB) via confirmed fax to 916-845-9796, or registered mail (FTB, P.O. Box 942867, Sacramento, CA 94267-8888), with the following [...]
The American Recovery and Reinvestment Act has establish a new loan program made available under the U.S. Small Business Administration (SBA) called the SBA ARC Loan Program. Under the ARC Program, struggling for profit small businesses can get an [...]
The City of Los Angeles has instituted a tax penalty amnesty program effective May 1. 2009 through July 31, 2009. Under this program, taxpayers can avoid paying accrued penalties which can be as high as 40% for failing to report, or for underreporting, their business taxes. Businesses that have failed to comply will still have to pay the base tax, interest, and applicable fees owed, but will receive an automatic waiver of the usual penalty (which can be as high as 40%).
To qualify for the program, the taxpayer (individual or business entity) must:
Effective April 1, 2009, California’s base sales tax rate increased 1% to 8.25%. Yes this is not the tax rate paid by residents of California as each county has added percentages to the state’s base sales tax rate. In effect, most Californians are now paying an average of 9% on their retail purchases. In Los Angeles County the new sales tax rate is now a whopping 9.25%. In San Francisco, the new sales tax rate is 9.50% and in San Diego County the sales tax rate is now 8.75%.
More detailed information can be found in this 2009 publication [...]
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Disclaimer: The information presented on this web site was prepared by Melissa C. Marsh for general informational purposes only and does not constitute legal advice. The information provided in my articles and alerts should not be relied upon, or used as a substitute for professional legal advice from an attorney you retain to advise or represent you. Your use of this Internet site does not create an attorney- client relationship. Transmission of this article is not intended to create, and receipt of it does not constitute, an attorney-client relationship. All uses of the contents of this site, other than personal uses, are prohibited. You may print or email a copy of any information posted on this web site for your own personal, non-commercial, use, but you may not publish any of the articles or posts on this web site without the Express Written Permission of Melissa C. Marsh.
Located in Los Angeles, California, the Law Office of Melissa C. Marsh handles business law and corporation law matters as a lawyer for clients throughout Los Angeles including Burbank, Sherman Oaks, Studio City, Valley Village, North Hollywood, Woodland Hills, Hollywood, West LA as well as Riverside County, San Fernando, Ventura County, and Santa Clarita. Attorney Melissa C. Marsh has considerable experience handling business matters both nationally and internationally. We routinely assist our clients with incorporation, forming a California corporation, forming a California llc, partnership, annual minutes, shareholder meetings, director meetings, getting a taxpayer ID number (EIN), buying a business, selling a business, commercial lease review, employee disputes, independent contractors, construction, and personal matters such as preparing a will, living trust, power of attorney, health care directive, and more.