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Hey! I got a letter from City of LA re: Business Tax. It says I need to apply and then pay LA city taxes for doing business in here. Here's the situation:
I was earning as self-employed in 2015 (and paid taxes with an accountant as self-employed). I incorporated LLC in Jan 2016, but the letter is addressed specifically to LLC only. The application provided is also only for LLC (can't do both in one application).
Do I also need to do something re: my self-employed year? And if so, how come I didn't receive a letter for that?
How do I calculate how much in taxes I owe based on what I reported to IRS as self-employed in 2015 (if needed) and for my LLC, which is yet to be done for the year 2016? Do I pay LLC taxes to City of LA after I report them to IRS (before April 2017)?
I'm moving to a different state in less than 2 month, and will be re-incorporating there. Does that affect anything?
Thanks a lot!
Just FYI, neither my accountant nor tax consultant nor the company I was incorporating with mentioned anything about LA city tax. They made it seem like the IRS taxes and CA incorporation fees/taxes are the only thing to worry about, and they listed me everything I need to take care of. LA City taxes weren't on the list. Did they just miss it, or there may be a reason that wasn't mentioned?
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