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Anyone else feel like the whole franchise tax system is just a way for the government to squeeze more money out of small businesses? 🙄 It's getting harder and harder to stay afloat these days.
Found the government plant 👀
Pro tip: If you're having trouble understanding something, don't be afraid to call and ask for clarification. I've found most FTB employees are actually pretty helpful if you're polite.
Anyone else think its ridiculous that we have to jump through all these hoops just to get a waiver that's supposed to be automatic? The system is broken, man.
Tbh, this is why I stuck with an LLC. Less headaches.
Hey OP, just curious - what kind of business are you starting? I'm thinking of setting up an S Corp too and wondering if it's worth the hassle.
I'm starting a small software consulting firm. Despite this hiccup, I still think the S Corp structure will be beneficial for me in the long run. But yeah, there's definitely some extra paperwork involved.
Hey OP, just curious - when did you incorporate? The waiver only applies to corps formed after Jan 1, 2021. If you incorporated before that, you might actually owe the tax.
Good question! We incorporated in March 2022, so we should definitely qualify for the waiver.
pro tip: if you cant get through on the phone, try reaching out to them on Twitter. Sometimes their social media team can help or at least escalate your issue.
Zainab Ali
I'm in the same boat. Filed in March, still nothing. This is ridiculous. Don't they realize people depend on these refunds?
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Connor Murphy
•Preach! 🙌 It's like they forget it's OUR money they're holding onto.
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Yara Nassar
Pro tip: if you filed electronically, check your tax software account. Sometimes they have more detailed status updates than the IRS website.
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