Available Resources for Small Business Owners July 2021 Tax News
We would like to remind you of the many resources that are available for small business owners. Experience has shown that informed taxpayers are generally the most compliant. In an effort to provide as much information as possible, FTB, along with other California State Agencies, have created informative websites and publications that can assist you and your small business clients.
- FTB – We have a Business section that provides useful links and information about various topics that are important for small business owners, such as filing requirements, current tax rates, and important due dates. Online services such as Web Pay and MyFTB are convenient ways for you or your clients to pay electronically and to have secure online access to your or your clients’ FTB accounts. There is also a Business help webpage that includes Revivor information if a business is suspended, and links for information on how to dissolve or cancel a business entity.
- Governor’s Office of Business and Economic Development (GO-Biz) – GO-Biz offers a website, the California Business Portal that features a business navigator, quick start guides, and links to financial assistance. If you or your clients are in need of permit assistance, CalGold is a website that can point you in the right direction regarding which permits and licenses are needed for a particular business and location.
- Small Business Assistance Center – The Small Business Assistance Center is another great resource located at California Tax Service Center or taxes.ca.gov. This website is sponsored by the State of California and contains useful information for all aspects of a business.
- California Secretary of State (SOS) – This website has a Business section that allows you to search for and access all public records for an entity, to find forms to start or dissolve/cancel a business entity, and even file statements of information online.
- FTB 1123, Common Forms of Ownership – This publication is a comprehensive resource providing general information and filing requirements for different forms of business ownership. For a business owner, one of the most important decisions is which form of business ownership will best fit their business needs. FTB 1123 provides the information needed to make an informed decision.
- FTB 984, Common Business Expenses – This publication discusses the most common business expenses.
- FTB 3556, General LLC Information – This publication specifically deals with Limited Liability Companies (LLCs) and how they are considered hybrid business entities with characteristics from corporations and partnerships.
- FTB 1060, Guide for Corporations Starting Business in California – This guide explains the filing requirements for corporations.
Whether you or your small business clients are just starting out, or already have an established business, there are plenty of resources available that can help you along the way. Be sure to take advantage of these opportunities today.