CA gross receipts - Spidell

CA gross receipts

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Message Board CA gross receipts

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    • #250013
      Michelle McAlindin
      Participant

      I have a CA LLC with a partnership interest in a GA activity.  My LLC sold its P/S investment in the GA activity.  I have recorded a capital gain for the sale of the partnership interest.  It is not sourced to CA since it is portfolio.  Would this gain be included in the CA gross receipts calculation and the LLC will have to pay an LLC fee on the gain?

    • #250023
      Diane White
      Participant

      Only CA sourced income is included in the calculation subject to the LLC fee.

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