I had opened a small business in California in Dec 2004 but didn't do any business through my corporation. How much Tax am I supposed to pay?
2006-12-12 08:18:16 · 3 answers · asked by satish m 1 in Business & Finance ➔ Corporations
CA charges $800 min per year for franchise fee, starting from 2nd year your company is in existance
2006-12-12 19:22:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You may have Franchise Tax or similar to pay. Here in NC, corporations get charged a minimum of $35 just to exist. You will also probably have to file an annual report.
See a CPA to get the paerwork up to date. It need not cost much at all.
2006-12-12 09:18:55 · answer #2 · answered by skip 6 · 0⤊ 0⤋
If you didn't sell anything there is nothing to pay tax on.
If you legally registered it there may be a dissolution form that you need to fill out to get your company off the state's tax rolls.
2006-12-12 08:20:30 · answer #3 · answered by Gem 7 · 0⤊ 0⤋