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Form 568, Limited Liability Return of Income

How to add Form 568 a limited liability return.
To generate Form 568, Limited Liability Company Return of Income:
  1. Select
    File
    , then
    Client Properties
    .
  2. Select the
    California
     tab.
  3. Select
    Limited Liability Company
    .
  4. A Secretary of State file number is required on the CAGenL screen for electronic filing. A Secretary of State file number is 12 digits long, no hyphens and has no non-numeric characters and is assigned to all taxpayers, both foreign and domestic, in the 1st year of filing a California Form 568.
Taxpayers who don’t know their assigned Secretary of State number can call the California FTB at (800)852-5711 (inside of the U.S.) or (916)845-6500 (outside of the U.S.). If the Secretary of State file number is not available, leave the
Secretary of State file number
field blank and enter either an
LLC temporary number assigned by FTB
 or
Reason for no Secretary of State file number
 on the CAGenL screen. Leaving the Secretary of State number blank will allow all zeros to print on the form, as requested by the CA FTB.
note
  • If an LLC is filing as a disregarded entity (Single member LLC), all information must be completed in the Disregarded entity information section of Screen CAGenL. When information is entered in this section, only pages 1-3, Schedule B, Schedule K, and the LLC Income worksheet on Form 568 will print. An SMLLC is still subject to the annual tax and LLC fee.
  • If gross receipts or other income is greater than $3 million, then all of Form 568 and attachments are required to print. UltraTax CS/1065-CA will automatically calculate if the SMLLC meets the limit and will print the required forms.

Taxes and fees

Limited liability companies are automatically assessed an $800 tax. This amount needs to be prepaid and filed with Form 3522. For example, the 2023 tax needs to be paid by the 2022 original due date.
note
This can be suppressed on the
CALPmt
 screen.
Limited liability companies are also assessed a fee based on the income calculated on the Limited liability company income worksheet.
If the limited liability company has any nonconsenting, nonresident members indicated in
View
, then
Partner Information
, then
California
 tab, an additional tax is calculated based on those members' share of their apportioned partnership income and calculated on Schedule T.

LLC Income worksheet

The LLC Income worksheet on Form 568, Page 7 calculates according to the Form 568 instructions booklet and is based on everywhere, total income not including losses or expenses. This worksheet calculates the California income that is subject to the LLC fee assessment. Use screen CALLC, in the
Ordinary Income
 folder, to force amounts on the worksheet or to select the option to
Use Schedule R apportionment percentage to calculate LLC Income Worksheet amounts
. Selecting this option calculates income by applying the apportionment percentage to all federal amounts.
note
The nonbusiness options used for rents and royalties on the
CAAlloc
 screen don’t affect the amounts on the LLC worksheet. If only California rentals are displayed on the LLC Income Worksheet, then you must manually enter California income.

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