AB91 _Repeal of technical termination -SMLLC - Spidell

AB91 _Repeal of technical termination -SMLLC

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Message Board AB91 _Repeal of technical termination -SMLLC

This topic contains 1 reply, has 2 voices, and was last updated by Lynn Freer 1 week, 6 days ago.

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  • #179245
    Weil and Company LLP
    Participant

    This is a follow up of my previous question (posted on 7/2/9). Is there any update ? thank you!

    I have a SMLLC, 100% ownership of which was sold to a third party individual during 2018.
    Per previous rule (technical termination), the SMLLC already filed Form 568 for the short period( from 1/1/18 thru sale date) and was going to file another one for the short period (from sale date thru 12/31/18).
    Now there’s no technical termination and if the SMLLC elects to apply to 2018 tax year, should the SMLLC file amended Form 568 to cover the whole year 2018?

  • #179339
    Lynn Freer
    Participant

    See our hot news and notes for information on how to make the California election. We do conform. It’s also covered in the September 1 California Taxletter.