LLC fee when LLC owes 3 LLC's (SMLLC)

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Message Board LLC fee when LLC owes 3 LLC's (SMLLC)

This topic contains 2 replies, has 2 voices, and was last updated by Gary Pollack 1 week, 3 days ago.

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  • #147709
    Gary Pollack
    Participant

    LLC-P-No gross

    LLC-S1-300,000 gross-

    LLC-S2-300,000 gross-

    LLC-S3-300,000 gross-

    LLC-S1, S2 and S3 file timely only showing gross

    LLC-P files an extension

    FTB hotline told me to file each S showing $900 due and they will send bill for each, then when P files the 3 bills will be cancelled so only P is only one that sends in a payment of fee

  • #147839
    Lynn Freer
    Participant

    That’s incorrect. Each LLC must file and pay the $800. LLC 1,2, and 3 will owe the fee based on their $300k but LLC_P won’t owe a fee

  • #147841
    Gary Pollack
    Participant

    LLC-P will file a return showing the 3 rentals and gross of $900K.   Won’t this produce a $2,500 LLC fee when the return is filed?