Seamlessly integrating our services to your needs in pursuit of the vast business and personal opportunities present in today's markets.

1650 Spruce Street, Suite 410
Riverside, CA 92507

Phone: 951.788.9410
Fax: 951.788.0766
Email: lowrance@lobbcliff.com

Contact by E-Mail does not alone create an attorney-client relationship. If you contact the firm by E-Mail regarding a matter in which the firm does not represent you, any information you communicate may be treated as privileged and confidential and may not be used against you in a court of law. Please remember Internet E-Mail is not secure and messages sent to the firm should not contain sensitive or confidential information unless the message is adequately encrypted.

Secure Payments

Professional Resources

CPA Resources: LLC Tax

LLC Gross Receipts Chart
Deferral Limitations on Contributions to Some Common Retirement Plans
Deferral Limitations on Contributions to Health Savings Accounts
Domestic Per Diem Rate

LLC Gross Receipts Tax Chart

Net Income	Gross Receipts Tax
$0 - $249,999	$0
$250,000 - $499,999	$900
$500,000 - $999,999	$2,500
$1,000,000 - $4,999,999	$6,000
$5,000,000 & up	$11,790

An LLC taxed as partnership for federal tax purposes must pay an annual fee based on total gross revenue pursuant to California Revenue and Taxation Code Section 17942. This “gross receipts tax” can range from $900 for annual gross receipts less than $500,000 to as much as $11,790 for annual gross receipts greater than $5 million per year. The gross receipts tax does not apply to an LLC taxed as a corporation.

Return to Top

Defferal Limitations on Contributions to Some Common Retirement Plans

SEP	2005	2006	Thereafter
All	$42,000	$44,000	Indexed
SIMPLE	2005	2006	Thereafter
Less than 50	$10,000	$10,000	Indexed
50 and older	$12,000	$12,500	Indexed
IRA	2005	2006	2007	2008	Thereafter
less than 50	$4,000	$4,000	$4,000	$5,000	Indexed
50 and older	$4,500	$5,000	$5,000	$6,000	Indexed
401(k)	2005	2006	Thereafter
less than 50	$14,000	$15,000	indexed
50 and older	$18,000	$20,000	indexed
403(b)	2005	2006	Thereafter
less than 50	$14,000	$15,000	indexed
50 and older	$18,000	$20,000	indexed
Extra*	$3,000	$3,000	$3,000

* For 15-year employees in church plans.

Return to Top

Deferral Limitations on Contributions to Health Savings Accounts

Individuals with high* deductible health plans may set-up a Health Savings Account and deduct their contributions to the HSA.

The monthly limits are one-twelfth of the lesser of:
the annual deductible, or
the amounts shown in the tables below:

Plan	2005	2006	Thereafter
Self-Only	$2,250	$2,700	indexed
Family	$4,500	$5,450	indexed

	2005	2006	2007	2008	2009	Thereafter
Extra**	$600	$700	$800	$900	$1,000	$1,000

* For self-only for 2006, a high deductible is $1,050 (indexed) or more and the sum of the deductible and other required out-of-pocket expenses is $5,250 (indexed) per year or less. For family plans, these amounts are doubled.
** For individuals 55 years and older the regular annual limit may be increased by this amount.

Return to Top

Domestic Per Diem Rates

FY 06 Rates have been announced. Rates are set by fiscal year, effective beginning each October 1. To learn about rates in your state and county, please refer to the U.S. General Services Administration.

Return to Top

DISCLAIMER
This is for informational purposes only and should not be considered professional advice, legal advice or to create an attorney-client relationship. You should consult with your own professional (Accountant, Lawyer, Tax Advisor) regarding the application of this information to your own situation. Neither the information provided, nor any response to it is intended to create an attorney-client relationship or privilege of any kind.

L&C is rated AV by the Martindale-Hubbell Law Directory, the highest rating given by the most prestigious attorney rating directory in the United States.