User talk:Ymanela
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California LLC Fee
Ymanela, I think you are on to something here. I do think the LLC fee will be struck down in its entirety, but I also believe it will come back to haunt us one way or another. The S corporation "management company" may be a good idea -- it collects the rents, pays the expenses, gets paid a management fee by the LLCs, and pays each LLC the net income from its property. That may get the LLCs' gross receipts down to the point where there will be no fee, assuming the thresholds remain the same as they are now (of course we can't rely on that). Remember the S corporation will pay the $800 minimum tax plus 1.5% of its net income, but its net income should only be the management fee -- everything else will zero out.
Do remember that this is "off the top of my head" and not a substitute for your own research. As the disclaimer goes, nothing contained herein is intended to be used, or can be used, by any person to avoid penalties that may be imposed under federal or any state law. And free advice is always worth what you pay for it ..... <G> KatieJ 03:10, 31 May 2007 (CDT)
