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  • 2009 Schedule Qs -- Qualified Subchapter S Subsidiary (qsub) Information Worksheet. 2009 California

Get 2009 Schedule Qs -- Qualified Subchapter S Subsidiary (qsub) Information Worksheet. 2009 California

Alifornia corporation number (c) (d) (e) (f) Federal employer Effective date of Date of QSub Amount of identification federal QSub annual tax QSub annual number election payment tax paid (MM/DD/YY) (MM/DD/YY) General Information Specific Instructions For taxable years beginning on or after January 1, 1997, California law has conformed to the federal treatment of Qualified Subchapter S Subsidiaries (QSub), with certain exceptions. The QSub is subject to an annual tax of $800 which is paid.

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Qualified Subchapter S Subsidiaries These subsidiaries are commonly called QSubs. The election by the parent S corporation to treat its subsidiary for federal purposes as a QSub is most cases binding for California. A QSub is not treated as a separate entity, but as division of the parent S corporation.

A parent S corporation uses Form 8869 to elect to treat one or more of its eligible subsidiaries as a qualified subchapter S subsidiary (QSub). The QSub election results in a deemed liquidation of the subsidiary into the parent.

After the change of ownership has occurred, the existing LLC can then transfer the assets that the members want to protect up to the parent LLC. The new LLC then files a QSUB Election to have the existing LLC treated as a Qualified Subchapter S Subsidiary, (hereinafter “QSUB”).

S corporations cannot be owned by corporations, LLCs, partnerships or many trusts. This is not the case for LLCs.

Employer Identification Number (EIN) A QSub is not required to have or use an EIN for Federal tax purposes. If the QSub does not have an EIN, enter “N/A” on line 8.

Specifically, a QSub is a disregarded entity, meaning that for tax purposes it is considered the same entity as its parent S Corporation. As a result, if the QSub falls under California's jurisdiction, the parent S Corporation would be subject to the minimum franchise tax of $800 or 1.5% of annual income.

This schedule notifies the FTB that the QSub's items of income, deduction, and credit will be included in the parent's return and the QSub will not file a separate California franchise or income tax return.

A Qualified Subchapter S Subsidiary (QSub) is an S Corporation, or a corporation that is eligible to be an S Corporation, that is 100% owned by another S Corporation. A QSub is elected by filing a Form 8869 with the IRS.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232