Limited liability limited partnership Business type
A limited liability limited partnership (LLLP) consists of one or more:
- General partners
- Manages the business operations
- Limited partners
- Maintains a financial interest
Open a LLLP
An LLLP cannot be formed in California. An LLLP formed in another state must register with the California Secretary of State (SOS) before they start doing business in California.
LLLPs do not pay income tax but they are subject to the annual tax of $800.
Your return is due the 15th day of the 3rd month after the close of your taxable year.
For more information visit due dates for business.
Partnership return of income (Form 565)
You are required to file Partnership Return of Income (Form 565) if you are an LLLP that:
- Does business in California
- Has California source income
- Is registered or filed a certificate with the SOS
Visit 565 Partnership Tax Booklet for more information
The LLLP has no estimated tax requirements. However, partners may have to make their own estimated tax payments.