Steve Sims EA llc

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C Corporations and LLCs Taxable as a Corporation get more time to file California Income Tax Returns....kinda, for extension filers “Nope”

The original tax return due date is now April 15, which used to be March 15 for calendar year filers. For fiscal year filers, the new due date is the 15th day of the 4th month following the close of the taxable year.

The extended due date did not change. The last day to file your 2016 Corporate Franchise or Income Tax return with an automatic extension for calendar year filers is October 16. For fiscal year filers, the extended due date is the 15th day of the 10th month following the close of the taxable year. Corporations will no longer have the additional month after filing their federal return. If you miss the deadline for filing your income tax return by the extended due date, the Franchise Tax Board (FTB) will impose a penalty of 25 percent of the amount due, after applying any payments and credits made on or before the original tax return due date.

The FTB will impose the penalty from the original due date of the tax return.

For more filing deadlines click here:

https://www.ftb.ca.gov/professionals/taxnews/Editions/2017/February.shtml#Article02

steve@stevesimsea.com