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California Free Printable 2019 FORM 568 Limited Liability Company Return of Income for 2020 California Limited Liability Company Return of Income

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Limited Liability Company Return of Income
2019 FORM 568 Limited Liability Company Return of Income

TAXABLE YEAR 2019 Limited Liability Company Return of Income CALIFORNIA FORM 568 For calendar year 2019 or fiscal year beginning and ending (m m / d d / y y y y) . (m m / d d / y y y RP y) A California Secretary of State (SOS) file number Limited liability company name (type or print) • Additional information B FEIN • Street address (suite, room, PO box) PMB no. City (If the LLC has a foreign address, see instructions.) State Foreign country name Foreign province/state/county E Check accounting method • (1) H Check the applicable box • (1) I  Cash ZIP code (2) F  Accrual  Initial return (2) (3) Date business started in CA (m m / d d / y y y y)  Other (attach explanation) •  FINAL RETURN (3)  Amended return Foreign postal code G Enter total assets at end of year. See instructions. • (4) $  Protective claim (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 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, 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 previous year’s tax return? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (Yes requires filing of statement, penalties may apply– see instructions.) Enclose, but do not staple, any payment. Complete Schedule IW, LLC Income Worksheet (on Side 7) first to determine line 1. •  Yes  No •  Yes  No •  Yes  No Whole dollars only • Limited Liability Company fee. See instructions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 2019 annual Limited Liability Company tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Nonconsenting nonresident members’ tax liability from Schedule T (Side 4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Partnership level tax. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Total tax and fee. Add line 2, line 3, line 4, and line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Amount paid with form FTB 3537 and 2019 form FTB 3522 and form FTB 3536. . . . . . . . . . . . . . . . . . . . . . . . . . • Overpayment from prior year allowed as a credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Withholding (Form 592-B and/or 593) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Total payments. Add line 7, line 8, and line 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Use tax. This is not a total line. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Payments balance. If line 10 is more than line 11, subtract line 11 from line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . • Use tax balance. If line 11 is more than line 10, subtract line 10 from line 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . • 1 Total income from Schedule IW, Limited Liability Company Income Worksheet. See instructions . . . . . . . . . . . . 1 00 2 2 00 3 00 4 00 5 00 6 00 7 00 8 00 3 4 5 6 7 8 9 10 11 12 13 3671193 9 00 10 00 11 00 12 00 13 00 Form 568 2019 Side 1 Whole dollars only • Overpayment. If line 12 is more than line 6, subtract line 6 from line 12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Amount of line 15 to be credited to 2020 tax or fee . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Refund. If the total of line 16 is less than line 15, subtract the total from line 15 . . . . . . . . . . . . . . . • 17 Penalties and interest. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • Total amount due. Add line 13, line 14, line 16, and line 18, then subtract line 15 from the result. . • 19 14 Tax and fee due. If line 6 is more than line 12, subtract line 12 from line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 00 15 15 00 16 00 16 17 18 19 . 00 00 18 J Principal business activity code (Do not leave blank) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Business activity ________________________ Product or service _____________________________ . 00 • 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 M (1) Is this LLC apportioning or allocating income to California using Schedule R?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes  Yes Was there a distribution of property or a transfer (for example, by sale or death) of an LLC interest during the taxable year? . . . •  Yes (1) Does the LLC have any foreign (non-U.S.) nonresident members?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes (2) Does the LLC have any domestic (non-foreign) nonresident members?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes (3) Were Form 592, Form 592-A, Form 592-B, and Form 592-F filed for these members?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes Are any members in this LLC also LLCs or partnerships? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes Is this LLC under audit by the IRS or has it been audited in a prior year? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes Is this LLC a member or partner in another multiple member LLC or partnership? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes (2) If “No,” was this LLC registered in California without earning any income sourced in this state during the taxable year? . . . • N P Q R S  No  No  No  No  No  No  No  No  No  No If “Yes,” complete Schedule EO, Part I.  Yes  No (1) Is this LLC a business entity disregarded for tax purposes? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes  No T Is this LLC a publicly traded partnership as defined in IRC Section 469(k)(2)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U (2) If “Yes,” see instructions and complete Side 1, Side 2, Side 3, Schedule B, Side 5, and Side 7, if applicable. Are there credits or credit carryovers attributable to the disregarded entity? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes (3) If “Yes” to U(1), does the disregarded entity have total income derived from or attributable to California that is less than 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. . . . . . . . . . . . . . . . . . . . •  Yes W Did this LLC file the Federal Schedule M-3 (federal Form 1065)? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes X Is this LLC a direct owner of an entity that filed a federal Schedule M-3? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes Y Does the LLC have a beneficial interest in a trust or is it a grantor of a Trust? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . If “Yes,” attach schedule of trusts and federal identification numbers. •  Yes Z Does this LLC own an interest in a business entity disregarded for tax purposes?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • If “Yes,” complete Schedule EO, Part II. Side 2 Form 568 2019 3672193  No  No  No  No  No  Yes  No (continued on Side 3) (continued from Side 2) •  Yes  No to any other member? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes CC (1) Is the LLC deferring any income from the disposition of assets? (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes  No  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)) (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 EE “Doing business as” name. See instructions: . . . . . . . . . . . . . . . • _____________________________________________________________________ (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FF (1) Has this LLC operated as another entity type such as a Corporation, S Corporation, General Partnership, Limited Partnership, or Sole Proprietorship in the previous five (5) years? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes  No (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 (2) Is this the first year of doing business in California?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •  Yes 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.  No  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 • (4) Estate/Trust • (5) Exempt Organization • (3) Pass-Through (S corporation, partnership, LLC classified as a partnership) 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 ▶ Sign Here 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. Signature of authorized member or manager ▶ Date Telephone • Authorized member or manager’s email address (optional) Paid preparer’s signature ▶ Date Paid Preparer’s Firm’s name (or yours, Use Only Check if self-employed • PTIN • Firm’s FEIN • if self-employed)   ▶ and address Telephone May the FTB discuss this return with the preparer shown above (see instructions)?. . . . . . . . . . . 3673193 • •• Yes • No Form 568 2019 Side 3 Schedule A 1 2 3 4 5 6 7 8 9 Cost of Goods Sold 00 Inventory at beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 00 Purchases less cost of items withdrawn for personal use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 00 Cost of labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 00 Additional IRC Section 263A costs. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 00 Other costs. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 00 Total. Add line 1 through line 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 00 Inventory at end of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 00 Cost of goods sold. Subtract line 7 from line 6. Enter here and on Schedule B, line 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 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 d Was 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. • Deductions Income 1c a Gross receipts or sales $ ____________ b Less returns and allowances $ ____________ . . . . . . c Balance Cost of goods sold (Schedule A, line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 2 3 GROSS PROFIT. Subtract line 2 from line 1c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Total ordinary income from other LLCs, partnerships, and fiduciaries. Attach schedule . . . . . . . . . . . . . . . . . . . 5 Total ordinary loss from other LLCs, partnerships, and fiduciaries. Attach schedule . . . . . . . . . . . . . . . . . . . . . . 6 Total farm profit. Attach federal Schedule F (Form 1040 or 1040-SR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Total farm loss. Attach federal Schedule F (Form 1040 or 1040-SR) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Salaries and wages (other than to members). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Guaranteed payments to members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 14 15 Bad debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Deductible interest expense not claimed elsewhere on return . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 16 a Depreciation and amortization. Attach form FTB 3885L $ _________________ b Less depreciation reported on Schedule A and elsewhere on return $ _________________ . . . . . c Balance 17c 18 Depletion. Do not deduct oil and gas depletion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 19 Retirement plans, etc . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 20 Employee benefit programs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 21 21 Other deductions. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 22 Total deductions. Add line 13 through line 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 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. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 • • • • • • • • • • • • 00 00 00 00 00 00 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 2019 3674193 Schedule K Members’ Shares of Income, Deductions, Credits, etc. (b) Amounts from federal K (1065) (a) Distributive share items Income (Loss) 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 3a (c) California adjustments (d) Total amounts using California law • • •  Gross income (loss) from other rental activities . . . . . . . . . . . . . . . . . . . b Less expenses. Attach schedule. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3b c Net income (loss) from other rental activities. Subtract line 3b from line 3a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3c 4 Guaranteed payments to members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5    6 Dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6  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  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 10 a   • • Deductions 12 Expense deduction for recovery property (IRC Section 179). Attach schedule 12 13 a Investment interest expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13b c 1 Total expenditures to which IRC Section 59(e) election may apply . . 13c1 2 Type of expenditures ________________________________ ____ 13c2 Other Information Alternative Minimum Tax (AMT) Items Credits d Analysis Charitable contributions. See instructions. Attach schedule . . . . . . . . . . 13a b Deductions related to portfolio income . . . . . . . . . . . . . . . . . . . . . . . . . . 13d e Other deductions. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 a Withholding on LLC allocated to all members . . . . . . . . . . . . . . . . . . . . . . . . . b Low-income housing credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Credits other than the credit shown on line 15b related to rental real estate activities. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Credits related to other rental activities. Attach schedule . . . . . . . . . . . . . e Nonconsenting nonresident members’ tax paid by LLC . . . . . . . . . . . . . . f Other credits. Attach schedule . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 a Depreciation adjustment on property placed in service after 1986. . . . . . b Adjusted gain or loss . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Depletion (other than oil and gas) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . d Gross income from oil, gas, and geothermal properties . . . . . . . . . . . . . e Deductions allocable to oil, gas, and geothermal properties . . . . . . . . . . f Other alternative minimum tax items. Attach schedule . . . . . . . . . . . . . . 18 a Tax-exempt interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Other tax-exempt income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Nondeductible expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 a Distributions of money (cash and marketable securities) . . . . . . . . . . . . b Distribution of property other than money . . . . . . . . . . . . . . . . . . . . . . . . 20 a Investment income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b Investment expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . c Other information. See instructions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 a Total distributive income/payment items. Combine lines 1, 2, and 3c through 11c. From the result, subtract the sum of lines 12 through 13e. b  Analysis of members: (a) Corporate (b) Individual i. Active ii. Passive • 13e 15a 15b 15c 15d 15e 15f 17a 17b 17c 17d 17e 17f 18a 18b 18c 19a 19b 20a 20b 20c   • • 21a • (c) (d) (e) Partnership Exempt Organization Nominee/Other (f) LLC Members 3675193 Form 568 2019 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 (a) (b) Assets 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 ( ) End of taxable year (c) ( (d) )    ( ) • ( ) ( ) ( ) ( • )   ( )   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 . . . . . . . . . . . . . . . . . . . . . . . . 2 Income included on Schedule K, line 1 through line 11c not recorded on books this year. Itemize . . . . . . . . . . . . . .  3 Guaranteed payments (other than health insurance) . . . . . . . 4 Expenses recorded on books this year not included on Schedule K, line 1 through line 13e. Itemize: a Depreciation . . . . . . . . . . . . . . . . . . .$ ______________ b Travel and entertainment . . . . . . . . .$ ______________ c Annual LLC tax . . . . . . . . . . . . . . . .$ ______________ d Other . . . . . . . . . . . . . . . . . . . . . . . .$ ______________ e Total. Add line 4a through line 4d. . . . . . . . . . . . . . . . . .  5 Total of line 1 through line 4e. . . . . . . . . . . . . . . . . . . . . . . . Schedule M-2 6 Income recorded on books this year not included on Schedule K, line 1 through line 11c. Itemize: a Tax-exempt interest . . . . . . . . . . . . . . . . . $ ______________ b Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ______________ c Total. Add line 6a and line 6b . . . . . . . . . . . . . . . . . . . . . . . . . .  7 Deductions included on Schedule K, line 1 through line 13e not charged against book income this year. Itemize: a Depreciation . . . . . . . . . . . . . . . . . . . . . . . $ ______________ b Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ ______________ c Total. Add line 7a and line 7b . . . . . . . . . . . . . . . . . . . . . . . . . .  8 Total. Add line 6c and line 7c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Income (loss) (Schedule K, line 21a.) Subtract line 8 from line 5. 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 2019 3676193  ___________________ 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 1040-SR), 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 b Total California income from Form 568, Schedule B, line 3. See instructions . . . . . . . . . . . . . . . . . . . . • 1a Enter the California cost of goods sold from Form 568, Schedule B, line 2 and from federal Schedule F (Form 1040 or 1040-SR) (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 Enter the cost of goods sold of disregarded entities associated with the receipts assigned to California on line 2a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 2b b 3 a b c LLC’s distributive share of ordinary income from pass-through entities . . . . . . . . . . . . . . . . . . . . . . . . • 3a Enter 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 Enter 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 or 1040-SR). 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 b c Enter the amount from Schedule K (568), line 3a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 9a Enter the amount from all Schedule K-1s (565), Table 3, line 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . • 9b 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 13 California 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 17 Total 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 3677193 Form 568 2019 Side 7
Extracted from PDF file 2019-california-form-568.pdf, last modified December 2019

More about the California Form 568 Corporate Income Tax TY 2019

We last updated the Limited Liability Company Return of Income in February 2020, so this is the latest version of Form 568, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 568 directly from TaxFormFinder. You can print other California tax forms here.

Related California Corporate Income Tax Forms:

TaxFormFinder has an additional 174 California income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the California Form 568.

Form Code Form Name
Form 568 Schedule K-1 Member's Share of Income, Deductions, Credits, etc. (Fill-in)
Form 568 Schedule EO Pass-Through Entity Ownership
Form 568 Schedule D Capital Gain or Loss

Download all CA tax forms View all 175 California Income Tax Forms


Form Sources:

California usually releases forms for the current tax year between January and April. We last updated California Form 568 from the Franchise Tax Board in February 2020.

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About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of California Form 568

We have a total of nine past-year versions of Form 568 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2019 Form 568

2019 FORM 568 Limited Liability Company Return of Income

2018 Form 568

2018 Form 568 - Limited Liability Company Return of Income

2017 Form 568

2017 FORM 568 Limited Liability Company Return of Income

2016 Form 568

2016 Form 568 Limited Liability Company Return of Income

Limited Liability Company Return of Income (Fill-in & Save) 2015 Form 568

2015 Form 568 -- Limited Liability Company Return of Income

Limited Liability Company Return of Income 2014 Form 568

2014 Form 568 -- Limited Liability Company Return of Income

Limited Liability Company Return of Income 2013 Form 568

2013 Form 568 -- Limited Liability Company Return of Income

2012 Form 568

2012 Form 568 -- Limited Liability Company Return of Income

2011 California Form 568 2011 Form 568

2011 Form 568 -- Limited Liability Company Return of Income


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