limited liability company formation

Basics of Limited Liability Company Formation in California

After the United States’ Internal Revenue Service (IRS) classifies LLC as a pass-through-entity in 1988, all states passed legislations allowing the creation of LLC within their respective territories. It includes the state of California, which enacted The Beverly-Killea Limited Liability Company Act in 1996 that paves the way for the creation of the limited liability company within the California’s jurisdiction.

Initially, the California laws taxed LLC as a partnership with pass-through-entity tax treatment unless LLC owners declared to be taxed at the entity level.

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