This means the LLC itself doesn’t pay federal income taxes. Instead, the profits “pass through” to the LLC Members. And the Members pay the taxes on their personal tax return. And California state income taxes are very similar, since the state honors the federal tax treatment of your ...
The bill, as currently written, would also require the commission to redact the signature, personal address and telephone number of a filer, though none of that information currently appears in the copies of Form 700s available online. Brodzinsky of California Common Cause said there are reasonabl...