LLC for state of NJ

[bstaxes]

Just had a client receive 2 separate notices (1 for each of his LLC) to file an Annual Report. Both of these LLC's are disregarded entities. He files a Sch C for each. None of my other LLC (partnerships or disregarded entities) seem to have gotten this notice. The LLC's are not a Corp and has no employees. There is a fee involved for the state of NJ. Client is not happy. I know Corp had to file a CBT with NJ and pay a fee. My research shows that this was changed in 2005.

Has anyone else came across this? Does a Sch C filer need to file and pay? Tried to get through to NJ but the line is busy, busy, busy.

Thanks for any thoughts.

[jainen]

>>Both of these LLC's are disregarded entities<<

Obviously New Jersey doesn't disregard them quite as much as the IRS does. After all, he does register the business as a separate entity, presumably seeking to separate out his personal liability under New Jersey law. Most states have similar rules for LLC's.

[kcjenkins]

And you should be able to find the rules by going to the state website. Try the Sec of STate website.

[Virtual Managed Solutions]

KC & Others - As a tax professional, do you often find yourself wasting time trying to find tax regs, rules, pubs online? Is there really any type of website that has "EVERYTHING TAX" located centrally?

[TAXBILLY]

I use http://www.taxalmanac.com to research quickly. They have a reasearch resource button that is linked to IRS, IRC, Legalbitstream, Tax Court, etc and it's easy to locate and print out what you need.

Maybe Eric can add something similar to our website.

taxbilly

[kcjenkins]

I think most of us have saved the links to not only Tax Almanac, a very good link, but also to the IRS, the GPO. the SSA, and of course, the valuable state link, http://www.taxadmin.org/fta/link/FORMS.html

I think anyone trying to come up with a new 'everything tax' link would be duplicating Tax Almanac, basically.

[joelgilb]

>>Both of these LLC's are disregarded entities<<

Obviously New Jersey doesn't disregard them quite as much as the IRS does. After all, he does register the business as a separate entity, presumably seeking to separate out his personal liability under New Jersey law. Most states have similar rules for LLC's.

Good Answer Jainen!

We need to understand the differences in our governmental bodies here.

There is overhead at the:

Local level

County Level

State Level

Federal Level

All Judicial Levels

etc etc etc!