2016 Ca Form 568 PDF Details

Do you own a business in California? If so, it's important to understand the 2016 Ca Form 568. This document is used to report your business income and expenses to the state of California, and it's due by May 15th. In this blog post, we'll explain what you need to know about the 2016 Ca Form 568. We'll also provide a simple guide on how to complete the form. So if you're looking for information on the 2016 Ca Form 568, you've come to the right place! Stay tuned for our next post, where we'll discuss some of the common mistakes businesses make when completing this form.

This figure contains details about 2016 ca form 568. Prior to fill out the form, it is definitely worth reviewing more about it.

QuestionAnswer
Form Name2016 Ca Form 568
Form Length7 pages
Fillable?No
Fillable fields0
Avg. time to fill out1 min 45 sec
Other namesform 568 2018, form ca 568 instructions, form 568 california 2018, california form 568 online

Form Preview Example

TAXABLE YEAR

Limited Liability Company

 

 

CALIFORNIA FORM

 

2020

 

568

Return of Income

 

For calendar year 2020 or fiscal year beginning

(m m / d d / y y y y)

and ending

.

(m m / d d / y y y y)

RP

Limited liability company name (type or print)

 

 

 

 

 

 

A

California Secretary of State (SOS) file number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional information

 

 

 

 

 

 

 

 

 

 

 

 

B

FEIN

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Street address (suite, room, PO box)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PMB no.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

City (If the LLC has a foreign address, see instructions.)

 

 

 

 

 

 

 

 

 

State

ZIP code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign country name

 

 

 

Foreign province/state/county

 

 

 

 

 

 

 

Foreign postal code

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

E

Check accounting method

 

 

 

F Date business started in CA

 

G Enter total assets at end of year.

 

 

 

 

 

 

 

 

(m m / d d / y y y y)

 

 

 

See instructions.

 

(1) Cash (2) Accrual

(3) Other (attach explanation)

 

 

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

H Check the applicable box

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Initial return

(2) FINAL RETURN

(3) Amended return

(4) Protective claim

 

 

 

 

 

 

I

(1) During this taxable year, did another person or legal entity acquire control or majority ownership (more than a 50% interest)

 

 

 

of this LLC or any legal entity in which the LLC holds a controlling or majority interest that owned California real property

 

 

 

(i.e., land, buildings), leased such property for a term of 35 years or more, or leased such property from a government

 

. • Yes

No

 

 

agency for any term?

. . . . . . . . . . . . .

. . . . . . . . . . .

. .

. . . . . . . . .

. . . . . .

. . . . . . . . . . . . . .

. .

.

 

.

. . . .

. .

.

.

. .

 

 

(2) During this taxable year, did this LLC acquire control or majority ownership (more than a 50% interest) in another legal

 

 

 

entity that owned California real property (i.e., land, buildings), leased such property for a term of 35 years or more,

 

. • Yes

No

 

 

or leased such property from a government agency for any term?

. .

.

 

.

. . . .

. .

.

.

. .

 

 

(3) During this taxable year, has more than 50% of the LLC’s ownership interests cumulatively transferred in one or more

 

 

 

 

 

 

 

 

transactions after an interest in California real property (i.e., land, buildings) was transferred to it that was excluded

 

 

 

 

 

 

 

 

from property tax reassessment under Revenue and Taxation Code Section 62(a)(2) and it was not reported on a

 

. • Yes

No

 

 

previous year’s tax return?

. . . . . . . . . . . . .

. . . . . . . . . . .

. .

. . . . . . . . .

. . . . . .

. . . . . . . . . . . . . .

. .

.

 

.

. . . .

. .

.

.

. .

 

 

(Yes requires filing

of statement,

penalties may

apply– see instructions.)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

<![endif]>Enclose, but do not staple, any payment.

Complete Schedule IW, LLC Income Worksheet (on Side 7) first to determine line 1.

1

Total income from Schedule IW, Limited Liability Company Income Worksheet. See instructions

2

Limited Liability Company fee. See instructions

3

2020 annual Limited Liability Company tax. See instructions

4

Nonconsenting nonresident members’ tax liability from Schedule T (Side 4)

5

Partnership level tax. If IRS concluded a centralized audit for this year, see instructions. If not, leave blank

6

Total tax and fee. Add line 2, line 3, line 4, and line 5

7

Amount paid with form FTB 3537 and 2020 form FTB 3522 and form FTB 3536

8

Overpayment from prior year allowed as a credit

9

Withholding (Form 592-B and/or 593)

10

Total payments. Add line 7, line 8, and line 9

11

Use tax. This is not a total line. See instructions

12

Payments balance. If line 10 is more than line 11, subtract line 11 from line 10

13

Use tax balance. If line 11 is more than line 10, subtract line 10 from line 11

 

Whole dollars only

 

 

 

1

 

00

2

 

00

3

 

00

4

 

00

5

 

00

6

 

00

7

 

00

8

 

00

9

 

00

10

 

00

11

 

00

12

 

00

13

 

00

3671203

Form 568 2020 Side 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Whole dollars only

 

 

 

 

 

 

. . . . . .

 

 

 

 

 

 

 

 

 

 

 

 

14 Tax and fee due. If line 6 is more than line 12, subtract line 12 from line 6

. . .

. . .

14

 

 

 

 

 

 

 

00

 

 

15 Overpayment. If line 12 is more than line 6, subtract line 6 from line 12

. . .

. . .

. . . . . .

15

 

 

 

 

 

 

 

00

 

 

16 Amount of line 15 to be credited to 2021 tax or fee

. . .17. . .

. . . . . .

16

 

 

 

 

 

 

 

00

 

 

17 Refund. If the total of line 16 is less than line 15, subtract the total from line 15

 

 

 

 

 

 

.

00

 

 

 

 

 

 

 

. . . . . .

 

 

 

 

 

 

 

 

 

 

 

 

18 Penalties and interest. See instructions

. . .

. . .

18

 

 

 

 

 

 

 

00

 

 

19 Total amount due. Add line 13, line 14, line 16, and line 18, then subtract line 15 from the result. .

19

 

 

 

 

. 00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

J Principal business activity code (Do not leave blank)

. . . . . .

. . . . . . . . .

. .

 

 

 

 

 

 

 

Business activity ________________________ Product or service _____________________________

 

 

 

 

 

 

 

 

 

 

K Enter the maximum number of members in the LLC at any time during the year. For multiple member LLCs, attach a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

California Schedule K-1 (568) for each of these members

. . . . . .

. . . . . . . . .

. .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

L

Is this LLC an investment partnership? See General Information O

. . . . . .

. . . . . . . . .

. .

• Yes No

M

(1)

Is this LLC apportioning or allocating income to California using Schedule R?

. . . . . .

. . . . . . . . .

. .

• Yes No

 

(2)

If “No,” was this LLC registered in California without earning any income sourced in this state during the taxable year? .

. .

Yes No

N Was there a distribution of property or a transfer (for example, by sale or death) of an LLC interest during the taxable year? .

. .

• Yes No

P

(1)

Does the LLC have any foreign (non-U.S.) nonresident members?

. . . . . .

. . . . . . . . .

. .

• Yes No

 

(2)

Does the LLC have any domestic (non-foreign) nonresident members?

. . . . . .

. . . . . . . . .

. .

• Yes No

 

(3)

Were Form 592, Form 592-A, Form 592-B, Form 592-F, and Form 592-PTE filed for these members?

. . . . . .

. . . . . . . . .

. .

• Yes No

Q Are any members in this LLC also LLCs or partnerships?

. . . . . .

. . . . . . . . .

. .

• Yes No

R

Is this LLC under audit by the IRS or has it been audited in a prior year?

. . . . . .

. . . . . . . . .

. .

• Yes No

S

Is this LLC a member or partner in another multiple member LLC or partnership?

. . . . . .

. . . . . . . . .

. .

• Yes

No

 

If “Yes,” complete Schedule EO, Part I.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T

Is this LLC a publicly traded partnership as defined in IRC Section 469(k)(2)?

. . . . . .

. . . . . . . . .

. .

 

Yes No

U

(1)

Is this LLC a business entity disregarded for tax purposes?

. . . . . .

. . . . . . . . .

. .

• Yes

No

 

(2)

If “Yes,” see instructions and complete Side 1, Side 2, Side 3, Schedule B, Side 5, and Side 7, if applicable. Are there

 

• Yes

No

 

 

credits or credit carryovers attributable to the disregarded entity?

. . . . . .

. . . . . . . . .

. .

 

(3)

If “Yes” to U(1), does the disregarded entity have total income derived from or attributable to California that is less than

 

 

Yes

No

 

 

the LLC’s total income from all sources?

. . . . . .

. . . . . . . . .

. .

 

V

Has the LLC included a Reportable Transaction, or Listed Transaction within this return?

 

 

 

 

 

• Yes No

 

(See instructions for definitions). If “Yes,” complete and attach federal Form 8886 for each transaction. . .

. . . . . .

. . . . . . . . .

. .

W Did this LLC file the Federal Schedule M-3 (federal Form 1065)?

. . . . . .

. . . . . . . . .

. .

• Yes No

X

Is this LLC a direct owner of an entity that filed a federal Schedule M-3?

. . . . . .

. . . . . . . . .

. .

• Yes No

Y

Does the LLC have a beneficial interest in a trust or is it a grantor of a Trust?

. . . . . .

. . . . . . . . .

. .

• Yes

No

 

If “Yes,” attach schedule of trusts and federal identification numbers.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Z

Does this LLC own an interest in a business entity disregarded for tax purposes?

. . . . . .

. . . . . . . . .

. .

Yes

No

 

If “Yes,” complete Schedule EO, Part II.

 

 

 

 

 

 

(continued on Side 3)

 

 

 

 

 

 

 

 

 

Side 2 Form 568 2020

3672203

(continued from Side 2)

 

 

 

. . . . . . . . . . . • Yes

No

 

 

 

AA Is any member of the LLC related (as defined in IRC Section 267(c)(4)) to any other member of the LLC?

BB Is any member of the LLC a trust for the benefit of any person related (as defined in IRC Section 267(c)(4))

 

. . . . . . . . . . . • Yes No

 

to any other member?

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

.

CC

(1)

Is the LLC deferring any income from the disposition of assets? (see instructions)

. . . . . . . . . . . • Yes No

 

(2)

. .If “Yes,” enter the year of asset disposition

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

.

. . . . . . . . . . .

 

 

DD Is the LLC reporting previously deferred Income from:

• Installment Sale • IRC §1031

• IRC §1033 • Other

 

(see instructions)

EE “Doing business as” name. See instructions:

. . . . . _____________________________________________________________________

FF

(1)

Has this LLC operated as another entity type such as a Corporation, S Corporation, General Partnership,

 

. . . . . . . . . . . • Yes

No

 

 

Limited Partnership, or Sole Proprietorship in the previous five (5) years?

(2)If “Yes”, provide prior FEIN(s) if different, business name(s), and entity type(s) for prior returns

filed with the FTB and/or IRS (see instructions): _________________________________________________________________________________

GG (1)

Has this LLC previously operated outside California?

. . . . . . . . . . . . . . . . . . • Yes No

(2)

Is this the first year of doing business in California?

. . . . . . . . . . . . . . . . . . • Yes No

Single Member LLC Information and Consent — Complete only if the LLC is disregarded.

Federal TIN/SSN

 

 

Sole Owner’s name (as shown on owner’s return)

FEIN/CA Corp no./CA SOS File no.

 

 

Street Address, City, State, and ZIP Code

What type of entity is the ultimate owner of this SMLLC? See instructions. Check only one box:

(1) Individual

(2) C Corporation

(3) Pass-Through (S corporation, partnership, LLC classified as a partnership)

(4) Estate/Trust (5) Exempt Organization

Member’s Consent Statement: I consent to the jurisdiction of the State of California to tax my LLC income and agree to file returns and pay tax as may be required by the Franchise Tax Board.

Signature

 

 

 

 

Date

 

 

 

 

 

To learn about your privacy rights, how we may use your information, and the consequences for not providing the requested information, go to ftb.ca.gov/forms

 

and search for 1131. To request this notice by mail, call 800.852.5711.

 

 

 

 

 

 

 

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and

 

belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.

Sign

Signature

 

Date

 

 

 

 

of authorized

 

 

 

 

 

Here

member or

 

 

Telephone

 

manager

 

 

 

 

 

Authorized member or manager’s email address (optional)

 

 

 

Paid

Date

Check if

PTIN

 

 

preparer’s

 

 

 

 

 

 

 

self-employed

 

Paid

signature

 

Preparer’s

 

 

 

 

 

Firm’s FEIN

Use Only

Firm’s name (or yours,

 

 

 

 

 

if self-employed)   ▶

 

 

 

 

 

 

 

 

Telephone

 

and address

 

 

 

 

 

 

 

 

 

May the FTB discuss this return with the preparer shown above (see instructions)?. . . . . . . . . . . Yes No

 

 

 

 

 

 

 

 

 

 

 

 

3673203

Form 568 2020 Side 3

Schedule A Cost of Goods Sold

1

. . . . . . . . . . . . . . . . .Inventory at beginning of year

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

1

 

00

2

Purchases less cost of items withdrawn for personal use

. . . . . . . . . . . . . . . . . .

2

 

00

3

Cost of labor

. . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

3

 

00

4

Additional IRC Section 263A costs. Attach schedule

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

4

 

00

5

Other costs. Attach schedule

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

5

 

00

6

Total. Add line 1 through line 5

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

6

 

00

7

Inventory at end of year

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . .

7

 

00

8

Cost of goods sold. Subtract line 7 from line 6. Enter here and on Schedule B, line 2

. . . . . . . . . . . . . . . . . .

8

 

00

9

a

Check all methods used for valuing closing inventory:

 

 

 

 

 

 

(1)  Cost

(2)  Lower of cost or market as described in Treas. Reg. Section 1.471-4

(3)  Write down of “subnormal” goods as

 

 

described in Treas. Reg. Section 1.471-2(c)

(4)  Other. Specify method used and attach explanation ___________________________

 

b

Check this box if the LIFO inventory method was adopted this taxable year for any goods. If checked, attach federal Form 970 .

. . . . . . . . .

 

c

Do the rules of IRC Section 263A (with respect to property produced or acquired for resale) apply to the LLC?

. . . . . . . . .  Yes  No

dWas there any change (other than for IRC Section 263A purposes) in determining quantities, cost, or valuations between opening

and closing inventory? If “Yes,” attach explanation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

Schedule B Income and Deductions

Caution: Include only trade or business income and expenses on line 1a through line 22 below. See the instructions for more information.

 

1

. . . . .a Gross receipts or sales $ ____________ b Less returns and allowances $ ____________ .

c Balance

 

2

Cost of goods sold (Schedule A, line 8)

. . . . . . . .

 

3

GROSS PROFIT. Subtract line 2 from line 1c

. . . . . . . .

 

4

Total ordinary income from other LLCs, partnerships, and fiduciaries. Attach schedule

. . . . . . . .

<![endif]>Income

5

Total ordinary loss from other LLCs, partnerships, and fiduciaries. Attach schedule

. . . . . . . .

7

Total farm loss. Attach federal Schedule F (Form 1040)

. . . . . . . .

 

6

Total farm profit. Attach federal Schedule F (Form 1040)

. . . . . . . .

 

8

Total gains included on Schedule D-1, Part II, line 17 (gain only)

. . . . . . . .

 

9

Total losses included on Schedule D-1, Part II, line 17 (loss only)

. . . . . . . .

 

10

Other income. Attach schedule

. . . . . . . .

 

11

Other loss. Attach schedule

. . . . . . . .

 

12

Total income (loss). Combine line 3 through line 11

. . . . . . . .

 

13

Salaries and wages (other than to members)

. . . . . . . .

 

14

Guaranteed payments to members

. . . . . . . .

 

15

Bad debts

. . . . . . . .

<![endif]>Deductions

16

Deductible interest expense not claimed elsewhere on return

. . . . . . . .

19

Retirement plans, etc

. . . . . . . .

 

17

a Depreciation and amortization. Attach form FTB 3885L $ _________________

 

 

 

b Less depreciation reported on Schedule A and elsewhere on return $ _________________

c Balance

 

18

Depletion. Do not deduct oil and gas depletion

. . . . . . . .

 

20

Employee benefit programs

. . . . . . . .

 

21

Other deductions. Attach schedule

. . . . . . . .

 

22

Total deductions. Add line 13 through line 21

. . . . . . . .

 

23

Ordinary income (loss) from trade or business activities. Subtract line 22 from line 12

. . . . . . . .

Schedule T Nonconsenting Nonresident Members’ Tax Liability. Attach additional sheets if necessary.

 

1c

 

00

 

 

 

2

 

00

 

3

 

00

 

4

 

00

 

5

 

00

 

6

 

00

 

7

 

00

 

8

 

00

 

9

 

00

 

10

 

00

 

11

 

00

 

12

 

00

 

13

 

00

 

14

 

00

 

15

 

00

 

16

 

00

 

17c

 

00

 

 

18

 

00

 

 

19

 

00

 

20

 

00

 

21

 

00

 

22

 

00

 

23

 

00

(a)

Member’s name

(b)

SSN, ITIN,

or FEIN

(c)

Distributive

share of income

(d)

Tax

rate

(e)

Member’s

total tax due

(see instructions)

(f)

Amount withheld by this LLC on this member – reported on Form 592-B

(g)

Member’s

net tax due

Total the amount of tax due. Enter the total here and on Side 1, line 4. If less than zero enter -0-

________________

Side 4 Form 568 2020

3674203

Schedule K Members’ Shares of Income, Deductions, Credits, etc.

 

(a)

 

(b)

(c)

(d)

 

Distributive share items

 

Amounts from

California

Total amounts using

 

 

 

federal K (1065)

adjustments

California law

1

Ordinary income (loss) from trade or business activities

1

 

2

Net income (loss) from rental real estate activities. Attach federal Form 8825

2

 

 

3

a Gross income (loss) from other rental activities

3a

 

 

 

b Less expenses. Attach schedule

3b

 

 

 

cNet income (loss) from other rental activities. Subtract line 3b

 

 

 

 

from line 3a

 

 

 

 

 

 

 

 

3c

 

 

 

 

 

 

 

 

. . . . . . . . . . . . . .

. . . .

. . . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

<![endif]>(Loss)

4

Guaranteed payments to members

 

 

 

 

4

 

 

 

 

 

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

5

Interest income

 

 

 

 

 

 

 

5

 

 

 

 

 

. . . . . . . . . .

. . . .

. . . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

6

Dividends

 

 

 

 

 

 

 

6

 

 

 

 

 

<![endif]>Income

 

 

 

 

 

 

 

 

 

 

 

 

. . . . . . . . . .

. . . .

. . . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

7

Royalties

 

 

 

 

 

 

 

7

 

 

 

 

 

. . . . . . . . . .

. . . .

. . . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

8

Net short-term capital gain (loss). Attach Schedule D (568)

 

8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

9

Net long-term capital gain (loss). Attach Schedule D (568)

 

9

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

10

a Total gain under IRC Section 1231 (other than due to casualty or theft) .

 

10a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b Total loss under IRC Section 1231 (other than due to casualty or theft) .

 

10b

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11

a Other portfolio income (loss). Attach schedule .

. . . . . . . . . . . . . .

. . . .

.

 

11a

 

 

 

 

 

 

 

b Total other income. Attach schedule

. . . . . . . . . . . . . .

. . . .

.

 

11b

 

 

 

 

 

 

 

c Total other loss. Attach schedule . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

11c

 

 

 

 

 

 

 

12

Expense deduction for recovery property (IRC Section 179). Attach schedule

12

 

 

 

 

 

 

<![endif]>Deductions

13

. . . . . . . . .a Charitable contributions. See instructions. Attach schedule

.

 

13a

 

 

 

 

 

 

b

Investment interest expense

. . . . . . . . . . . . . .

. . . .

.

 

13b

 

 

 

 

 

c

1 Total expenditures to which IRC Section 59(e) election may apply .

.

 

13c1

 

 

 

 

 

 

 

2 Type of expenditures

 

 

 

 

 

 

13c2

 

 

 

 

 

 

 

 

d Deductions related to portfolio income

. . . . . . . . . . . . . .

. . . .

.

 

13d

 

 

 

 

 

 

 

 

e Other deductions. Attach schedule.

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

13e

 

 

 

 

 

 

15

a Withholding on LLC allocated to all members

. . . . . . . . . . . . . . .

. . . .

.

 

15a

 

 

 

 

 

 

 

 

 

b

Low-income housing credit

. . . . . . . . . . . . . .

. . . .

.

 

15b

 

 

 

 

 

 

<![endif]>Credits

 

c Credits other than the credit shown on line 15b related to rental real

 

 

15c

 

 

 

 

 

 

 

 

estate activities. Attach schedule . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

 

d Credits related to other rental activities. Attach schedule

 

 

15d

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

 

 

 

 

e Nonconsenting nonresident members’ tax paid by LLC

.

 

15e

 

 

 

 

 

 

 

 

 

f Other credits. Attach schedule . . . .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

15f

 

 

 

 

<![endif]>Alternative Minimum Tax (AMT) Items

17

a Depreciation adjustment on property placed in service after 1986

.

 

17a

 

 

 

 

 

 

b Adjusted gain or loss

. . . . . . . . . . . . . .

. . . .

.

 

17b

 

 

 

 

 

 

c Depletion (other than oil and gas) .

. . . . . . . . . .

. . . . . . . . . . . . . .

. . . .

.

 

17c

 

 

 

 

 

 

d Gross income from oil, gas, and geothermal properties

.

 

17d

 

 

 

 

 

 

e Deductions allocable to oil, gas, and geothermal properties

.

 

17e

 

 

 

 

 

 

f Other alternative minimum tax items. Attach schedule

.

 

17f

 

 

 

 

 

 

 

18

a

Tax-exempt interest income

. . . . . . . . . . . . . .

. . . .

.

 

18a

 

 

 

 

 

<![endif]>Information

 

b

Other tax-exempt income

. . . . . . . . . . . . . .

. . . .

.

 

18b

 

 

 

 

 

c

Nondeductible expenses

. . . . . . . . . . . . . .

. . . .

.

 

18c

 

 

 

 

 

19

a Distributions of money (cash and marketable securities)

.

 

19a

 

 

 

 

 

b Distribution of property other than money

. . . . . . . . . . . . . .

. . . .

.

 

19b

 

 

 

 

<![endif]>Other

20

a

Investment income

. . . . . . . . . . . . . .

. . . .

.

 

20a

 

 

 

 

 

 

b

Investment expenses

 

 

 

 

 

20b

 

 

 

 

 

 

 

 

. . . . . . . . . . . . . .

. . . .

.

 

 

 

 

 

 

 

 

 

c Other information. See instructions

. . . . . . . . . . . . . .

. . . .

.

 

20c

 

 

 

 

 

 

 

21

a Total distributive income/payment items. Combine lines 1, 2, and 3c

 

 

 

 

 

 

 

 

<![endif]>Analysis

 

 

through 11c. From the result, subtract the sum of lines 12 through 13e.

 

21a

 

 

 

 

 

b

Analysis of

(a)

 

(b) Individual

 

 

 

(c)

(d)

(e)

(f)

 

 

members:

Corporate

 

i. Active

ii. Passive

 

Partnership

Exempt Organization

Nominee/Other

LLC

 

 

 

 

Members

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3675203

Form 568 2020 Side 5

Schedule L Balance Sheets. See the instructions for Schedule L, before completing

Schedules L, M-1, and M-2.

 

 

 

 

Beginning of taxable year

 

End of taxable year

 

 

 

 

 

 

 

 

 

 

 

Assets

 

(a)

(b)

(c)

 

(d)

1

Cash

 

 

 

 

 

 

2

. . . . . . . . . . .a Trade notes and accounts receivable

 

 

 

 

 

 

 

b

Less allowance for bad debts

(

)

 

(

)

 

3

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Inventories

 

 

 

 

 

4

. . . . . . . . . . . . . . . . . . . .U.S. government obligations

 

 

 

 

 

 

5

. . . . . . . . . . . . . . . . . . . . . . . . .Tax-exempt securities

 

 

 

 

 

 

6

. . . . . . . . . . . . .Other current assets. Attach schedule

 

 

 

 

 

7

. . . . . . . . . . . . . . . . . .Mortgage and real estate loans

 

 

 

 

 

 

8

. . . . . . . . . . . . . . .Other investments. Attach schedule

 

 

 

 

 

9

. . . . . . . . .a Buildings and other depreciable assets

 

 

 

 

 

 

 

b

Less accumulated depreciation

(

)

(

)

10

a

Depletable assets

 

 

 

 

 

 

 

b

Less accumulated depletion

(

)

 

(

)

 

11

Land (net of any amortization)

 

 

 

 

12

. . . . . . . . . . .a Intangible assets (amortizable only)

 

 

 

 

 

 

 

b

Less accumulated amortization

(

)

 

(

)

 

13

. . . . . . . . . . . . . . . . . . .Other assets. Attach schedule

 

 

 

 

 

14

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total assets

 

 

 

 

 

 

 

Liabilities and Capital

 

 

 

 

 

 

15

Accounts payable

 

 

 

 

 

16

. .Mortgages, notes, bonds payable in less than 1 year

 

 

 

 

 

17

. . . . . . . . . . .Other current liabilities. Attach schedule

 

 

 

 

 

 

18

All nonrecourse loans

 

 

 

 

19

Mortgages, notes, bonds payable in 1 year or more . .

 

 

 

 

20

. . . . . . . . . . . . . . . . .Other liabilities. Attach schedule

 

 

 

 

 

21

Members’ capital accounts

 

 

 

 

22

. . . . . . . . . . . . . . . . . . . . . .Total liabilities and capital

 

 

 

 

 

 

Schedule M-1 Reconciliation of Income (Loss) per Books With Income (Loss) per Return. Use total amount under California law. See instructions.

1

Net income (loss) per books

. . . . . . . . . . . . . . .

.

 

6

Income recorded on books this year not included on

2

Income included on Schedule K, line 1 through line 11c

 

 

 

Schedule K, line 1 through line 11c. Itemize:

 

 

not recorded on books this year. Itemize

 

 

a Tax-exempt interest

$ ______________

3

. . . . . .Guaranteed payments (other than health insurance)

.

 

 

b Other

$ ______________

4

Expenses recorded on books this year not included on

 

 

 

c Total. Add line 6a and line 6b

. . . . . . . . . . . . . . . .

 

Schedule K, line 1 through line 13e. Itemize:

 

7

Deductions included on Schedule K, line 1 through line 13e

 

a Depreciation

$ ______________

 

 

not charged against book income this year. Itemize:

 

b Travel and entertainment

$ ______________

 

 

a Depreciation

$ ______________

 

c Annual LLC tax

$ ______________

 

 

b Other

$ ______________

 

d Other

$ ______________

 

 

c Total. Add line 7a and line 7b

. . . . . . . . . . . . . . . .

 

. .e Total. Add line 4a through line 4d.

. . . . . . . . . . . . . . .

 

8

Total. Add line 6c and line 7c

. . . . . . . . . . . . . . . . .

5

Total of line 1 through line 4e

. . . . . . . . . . . . . . .

.

9

Income (loss) (Schedule K, line 21a.) Subtract line 8 from line 5.

Schedule M-2 Analysis of Members’ Capital Accounts. Use California amounts.

1

Balance at beginning of year

 

 

5

Total of line 1 through line 4

 

2

Capital contributed during year

 

6

Distributions: a Cash

 

a Cash

 

 

b Property

 

. . . . . . . . . . . . . . . . .b Property

 

. . . . . . . . . . . . . . . . . . . . . .7 Other decreases. Itemize

3

. . . . . . . . . . . . . . . . .Net income (loss) per books . .

 

 

8

. . .Total of line 6 and line 7

 

4

. . . . . . . . . . . . . . . . .Other increases. Itemize

 

. . .9 Balance at end of year. Subtract line 8 from line 5

 

Schedule O Amounts from Liquidation used to Capitalize a Limited Liability Company. (Complete only if initial return box is checked on Side 1, Question H.)

Name of entity liquidated (if more than one, attach a schedule) _____________________________________________________________________________

Type of entity: (1) C Corporation (2) S Corporation

(3) Partnership (4) Limited Partnership (5) Sole Proprietor (6) Farmer

Entity identification number(s): FEIN __________________ SSN or ITIN __________________ CA Corp. No. _________________ CA SOS File No.

 

Amount of liquidation gains recognized to capitalize the LLC . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ___________________

Side 6 Form 568 2020

3676203

Schedule IW Limited Liability Company (LLC) Income Worksheet

Enter your California income amounts on the worksheet. All amounts entered must be assigned for California law differences. Use only amounts that are from sources derived from or attributable to California when completing lines 1-17 of this worksheet. If your business is both within and outside of California, see Schedule IW instructions to assign the correct amounts to California. If the LLC is wholly within California, the total income amount is assigned to California and is entered beginning with line 1a. If the single member LLC (SMLLC) does not meet the 3 million criteria for filing Schedule B (568) and Schedule K (568), the SMLLC is still required to complete Schedule IW. Disregarded entities that do not meet the filing requirements to complete Schedule B or Schedule K should prepare Schedule IW by entering the California amounts attributable to the disregarded entity from the member’s federal Schedule B, C, D, E, F (Form 1040), or additional schedules associated with other activities. Do not enter amounts on this worksheet that have already been reported by another LLC to determine its fee.

See instructions on page 14 of the Form 568 Booklet for more information on how to complete Schedule IW.

1

a Total California income from Form 568, Schedule B, line 3. See instructions

1a

 

b Enter the California cost of goods sold from Form 568, Schedule B, line 2 and from federal

 

 

 

Schedule F (Form 1040) (plus California adjustments) associated with the receipts

 

 

assigned to California on lines 1a and 4

1b

2

a If the answer to Question U(1) on Form 568 Side 2, is “Yes”, include the gross income of this

 

 

 

disregarded entity that is not included in lines 1 and 8 through 16

2a

 

b Enter the cost of goods sold of disregarded entities associated with the receipts assigned to

 

 

 

California on line 2a

2b

3

a LLC’s distributive share of ordinary income from pass-through entities

3a

bEnter the LLC’s distributive share of cost of goods sold from other pass-through entities

associated with the receipt assigned to California on line 3a (see Schedule K-1s (565),

 

Table 3, line 1a)

3b

cEnter the LLC’s distributive share of deductions from other pass-through entities associated with

 

 

the receipt assigned to California on line 3a (see Schedule K-1s (565), Table 3, line 1b)

3c

4

Add gross farm income from federal Schedule F (Form 1040). Use California amounts

4

5

Enter the total of other income (not loss) from Form 568, Schedule B, line 10

5

6

Enter the total gains (not losses) from Form 568, Schedule B, line 8

6

7

Add line 1a through line 6

. . .

. . . . . . . . . . . . . . . 7

8

California rental real estate

 

 

 

a

Enter the total gross rents from federal Form 8825, line 18a

8a

 

b

Enter the total gross rents from all Schedule K-1s (565), Table 3, line 2

8b

 

c

Add line 8a and line 8b

. . .

. . . . . . . . . . . . . . . 8c

9

Other California rentals.

 

 

 

a

Enter the amount from Schedule K (568), line 3a

9a

 

b

Enter the amount from all Schedule K-1s (565), Table 3, line 3

9b

 

c

Add lines 9a and 9b

. . .

. . . . . . . . . . . . . . . 9c

10

California interest. Enter the amount from Form 568, Schedule K, line 5

. . .

. . . . . . . . . . . . . . . 10

11

California dividends. Enter the amount from Form 568, Schedule K, line 6

. . .

. . . . . . . . . . . . . . . 11

12

California royalties. Enter the amount from Form 568, Schedule K, line 7

. . .

. . . . . . . . . . . . . . . 12

13California capital gains. Enter the capital gains (not losses) included in the amounts from Form 568,

 

Schedule K, lines 8 and 9

13

14

California 1231 gains. Enter the amount of total gains (not losses) from Form 568, Schedule K, line 10a

14

15

Other California portfolio income (not loss). Enter the amount from Form 568, Schedule K, line 11a

15

16

Other California income (not loss) not included in line 5. Enter the amount from Form 568, Schedule K, line 11b

16

17Total California income. Add lines 7, 8c, 9c, 10, 11, 12, 13, 14, 15, and 16. Line 17 may not be a negative number.

Enter here and on Form 568, Side 1, line 1. If less than zero enter -0-

17

3677203

Form 568 2020 Side 7

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Write the necessary particulars in the of this LLC or any legal entity in, agency for any term, (2) During this taxable year, entity that owned California real, or leased such property from a, (3) During this taxable year, transactions after an interest in, previous year’s tax return, e p a t s, t o n o d t u b, e s o c n E, (Yes requires filing of statement, and Whole dollars only box.

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Review the areas California Schedule K-1 (568) for, credits or credit carryovers, (2) If “Yes, If “Yes, S T, (3) If “Yes” to U(1), the LLC’s total income from all, V Has the LLC included a, and (See instructions for and thereafter fill them out.

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