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LLC Change

A business has filed and changed with IRS from a single member LLC to nine member LLC in 2007 but did not change with State (California) until 2008.

Please confirm - for Federal tax filing for 2007, I understand that Form 1065 with nine K-1s will be filed but for California will only one K-1 be filed because it was not changed in 2007? But then Federal and State will not be the same.

As for Federal EIN number on the State (California) Form, should the new Federal EIN number or the old one be reported?

Thanks in advance.

Reply to
bulldogspin
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wrote

I suspect that California is much like every other state - in that the Secretary of State (where you form the LLC/Corporation) and the Department of Revenue (where you file the taxes) don't talk all that much. File the return the-way-it-happened and get the legal formalities settled in short order. No one is going to come after you in any serious manner for being late in reforming the entity, but they will come after you quickly and seriously when the state and federal returns don't mesh up or report what actually happened.

Reply to
Paul Thomas, CPA

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