Startup Q&A
What kinds of taxes must start-ups pay for funding in California?
CEO and Founder of Kruze Consulting
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The taxes that you’ll need to pay depend on your unique situation, so it’s best to contact a CPA. I’m a CPA/interim CFO and I work with over 550+ startups. Here’s an example of the myriad of filings and taxes that a VC backed SF based Delaware-incorporated startup must pay:
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Jan 31: Send out 1099s sent out to contractors, W2s to employees.
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Feb 28: SF Payroll tax due (to close out previous year)
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Feb 28: DE Franchise tax due (depends on your Balance Sheet and Stock issued/outstanding)
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Mar 15: C Corp Tax Return due (but can extend to 9/15 for Fed)
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Apr 1: File your SF 571-L Business Property Return (may or may not need to file, SF will prompt you)
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Apr 15: $800 Annual CA Franchise Tax due
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Apr 30: SF Payroll Tax Quarterly Installment due
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May 31: File your SF Business Registration Renewal
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July 31: SF Payroll Tax Quarterly Installment due
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**Aug 31: **Pay your SF 571-L taxes
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Oct 31: SF Payroll Tax Quarterly Installment due
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Rolling: $25 Statement of Information due, check your mailbox for a white postcard.
Need an accountant for your startup? Kruze Consulting is a leading accounting firm working with seed and venture funded Delaware C-Corps. Kruze Consulting provides all things Accounting and Tax, including interim CFO Consulting, financial modeling, annual taxes, R&D tax credit studies, venture debt consulting, 409A reporting, bookkeeping. Contact Kruze today!
600 California St. 12th Floor
San Francisco, CA, 94108
(415) 322-1610
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