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LLC Employee/Worker Bond (if applicable) LLC liability insurance (if applicable) [7] Bonds may be provided by a surety company which is licensed by the California Department of Insurance and can cost a premium of $250-$2,250 depending on calculated risk for the required $15,000 bond. [8]
At 7.25%, California has the highest minimum statewide sales tax rate in the United States, [8] which can total up to 10.75% with local sales taxes included. [9]Sales and use taxes in California (state and local) are collected by the California Department of Tax and Fee Administration, whereas income and franchise taxes are collected by the Franchise Tax Board.
[1] [2] A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil."
The California Board of Accountancy (CBA), created by statute in 1901, is a semi-autonomous State of California agency under the California Department of Consumer Affairs whose purpose is to protect consumers by ensuring only qualified licensees practice public accountancy in accordance with established professional standards in California.
The California State Board of Equalization (BOE) is a public agency charged with tax administration and fee collection in the state of California in the United States.The authorities of the Board attempt to ensure that counties fairly assess property taxes, collect excises taxes on alcoholic beverages, administer the insurance tax program, and other tax collection related activities.
(Los Angeles Times) The Safe Drinking Water, Wildfire Prevention, Drought Preparedness, and Clean Air Bond Act of 2024 would have the state borrow $10 billion to pay for climate and environmental ...
Rule 144A.Securities Act of 1933, as amended (the "Securities Act") provides a safe harbor from the registration requirements of the Securities Act of 1933 for certain private resales of minimum $500,000 units of restricted securities to qualified institutional buyers (QIBs), which generally are large institutional investors that own at least $100 million in investable assets.
For example, if a person buys a rock for $20, and sells the same rock for $20, there is no tax, since there is no profit. If, however, that person buys a rock for $20 and then sells the same rock for $25, then there is a capital gain on the rock of $5, which is thus taxable. The purchase price of $20 is analogous to cost of sales.