This should be an easy question, but I seem to see conflicting information on the California Franchise Tax Board website.
In CA all corporations, LLCs and limited partnerships pay either a minimum tax or fee (whichever is appropriate) of $800 per year. But corporations are allowed to pay the actual tax owed the first year if it is less than $800.
Can a California LLC that is taxed as a corporation get that same benefit and just pay the tax that is actually owed for its first year without paying the minimum tax?
Thanks. I'd appreciate any information you may have on this.