Local, County and State
Due Dates

Don't forget about other local, city and county taxes along with your business entity statement

Other Taxes

Provide a general summary of the services you provide, highlighting key features and benefits for potential clients.

Office of Finance Due 2/28/25

The Office of Finance provides on-line services which allow businesses to register, renew and pay any bills due related to annual city tax liabilities.

All businesses are required to file an annual tax renewal regardless of whether or not your business generated revenue for that tax year.

Filing your renewals timely avoids late penalties and fees and also ensures that you can take advantage of all available tax credits and incentives.

Business tax exemptions, such New Business, Small Business with global gross receipts less than $100,000, and Creative Artist require timely filing of renewals.

Los Angeles County Taxes Due 4/1/2025

In April of every fiscal year, each California-based company is mandated to file a Form 571-L Business Property Statement.

This form, submitted to the local county assessor, details all non-real estate related properties and equipment, such as machinery and computers. The county then imposes a tax on this equipment, equivalent to roughly 1.11% of its depreciated value.

What is Business Personal Property?

In general, Business Personal Property is all property owned or leased by a business except Real Property and Inventory items.

Business Personal Property includes, but is not limited to:

Machinery
Computers
Equipment (e.g. FAX machines, photocopiers
Telephones
Furniture (e.g. desks, chairs, bookcases
Supplies

Tangible property owned, claimed, possessed or controlled in the conduct of a profession, trade or business may be subject to property taxes.

Business Personal Property is valued annually as of January 1.

The Secretary of State's office processes filings, maintains records and provides information to the public relating to business entities that include corporations, limited liability companies, limited partnerships, general partnerships, limited liability partnerships and other business filings.

If you have a registered LLC, LLP, S. Corporation, or Corporation you are required to file a Statement of Information every two years.

If you don't file a Statement of Information with the California Secretary of State, your business could be suspended. You could also be fined.

Consequences

Suspension: The Secretary of State may suspend your business.

Late fee: You may be fined $250 after the 60-day grace period.

Loss of business rights: You may lose the right to conduct business in California until your business is reinstated.

How to avoid penalties:

File your Statement of Information on time

Keep your business information up-to-date

Set a reminder to file your Statement of Information

When to file:

The first Statement of Information is due within 90 days of filing the original Articles of Incorporation
If there are changes, you must file an amendment within 90 days
Changing the registered agent requires filing a new Statement of Information

How to file:

You can file your Statement of Information online at bizfile.sos.ca.gov.

Secretary of State - Every 2 years

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