Do I owe California Tax on this income?

Home Fairmark Forum Other Tax Topics Do I owe California Tax on this income?

Viewing 1 post (of 1 total)
  • Author
  • #4521

    I am the minority partner of a completely online business. The majority partner and possibly an employee (may be a contractor) are California residents. I had assumed it was formed as a California LLC, but just found out when I received my K-1 for 2018 without a California K-1 that it was actually formed as a Wyoming LLC. I am not a California resident but have actually already filed an extension for my 2018 taxes (including a large payment) to California and have made estimated tax payments for the first two quarters of 2019. Obviously the majority partner’s taxes are exactly the same since he has to pay California tax on this income, but I think I probably mistakenly paid taxes to California on it.

    Two questions:

    1) Do I owe California taxes on this income?
    2) If not, I suppose I’ll need to file California tax returns for 2018 and 2019 just to get my money back. Is this going to cause any problems for me or the majority partner?

Viewing 1 post (of 1 total)
  • You must be logged in to reply to this topic.