SB 347
Annual tax: partnerships and LLCs.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Appropriations
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill proposes to reduce the annual tax for limited partnerships, limited liability partnerships, and limited liability companies operating in California. Currently, these businesses pay an annual tax equal to the corporate franchise tax. This bill would lower that tax to $200 for taxable years beginning on or after January 1, 2026, and before January 1, 2031. The bill also includes provisions related to reporting requirements for tax expenditures.
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