Over the last few weeks, tax professionals have been getting calls from partnership clients (even those who dissolved decades ago) who received a notice from the FTB assigning them a temporary identification number.
The FTB has stated that these were sent out as part of their implementation of AB 85 (Ch. 20-8), which provided a first-year exemption for newly registered LLCs, limited partnerships, and limited liability partnerships. To qualify, these entities must be registered with the Secretary of State’s (SOS’s) Office during the 2021 through 2023 calendar years and receive an SOS number.
However, the temporary identification number notices (FTB 736B MEO BETS) were sent out to a much larger pool of taxpayers, and included entities such as general partnerships who had filed returns with the FTB without an SOS number. The FTB sent approximately 295,000 notices.
Most taxpayers who receive these notices can simply ignore them. However, general partnerships can use the temporary identification numbers assigned in these notices to make the AB 150 passthrough entity elective tax payments electronically through Web Pay, or to file their returns. In addition, dissolved partnerships who have received these notices may want to contact the FTB to close out their accounts by calling (800) 852-5711.