New Federal Requirement: Starting January 1, 2024, most business entities in the US will need to report Beneficial Ownership Information.
We have a NY LLC. The business is buying goods for export. I live in California. Since I may occassionaly buy and export goods from California, do we have to register as foreign entity in California? What are the tax implications?
Ekeson,
Generally speaking, if you can stay away from California, you should. This is not the friendliest of states when it comes to taxation, and one of the smaller examples of the added burden a business takes on itself when registering in California is the notorious franchise tax of $800 (minimum) a year, among other things.
With that being said, if you are in fact in California and you are running the business from that state then not registering is not an option, and you need to form a foreign entity of the NY LLC in California. To learn about all potential tax implication I would strongly recommend you to consult an accountant in California.
(a) You made a typo in the card number, CCV code, expiration date, name or address;
(b) Your card balance is too low;
(c) Issuing bank has declined this transaction for some other reason related to your account.
