Are you collecting a lot of sales tax in California? If your business meets a certain threshold, the CDTFA might want your money before the quarter ends! Here’s what you need to know to stay compliant and avoid costly penalties.
#SalesTax #CaliforniaBusiness #TaxTips #SmallBusinessHelp #BizHelpForYou
Key Moments
- 00:00 – Intro to Quick Tip format
- 00:30 – Who needs this episode (high-volume tax collectors)
- 01:15 – Why CA requires prepayments (cash flow for the state)
- 02:00 – Threshold that triggers prepayments ($17,000/month)
- 03:00 – CDTFA will notify you if you qualify
- 03:45 – How prepayments work (Q1, Q3, Q4 rules)
- 05:00 – Special rules for Q2 explained
- 06:30 – What happens after you start prepaying
- 07:30 – Final steps if you’re close to the threshold
- 09:00 – How AB&P can help
- 09:30 – Outro and call to action
Key Notes
- Prepayments are required if you collect $17,000+ in sales tax monthly.
- You’re notified by the CDTFA, not self-determined.
- Prepayments for Q1, Q3, and Q4 cover January, February, etc.
- Q2 requires extra planning with two prepayment methods.
- Prepayments do not replace quarterly filings.
- Staying organized is crucial to avoiding penalties.
- AB&P can manage your sales tax prepayment process.
Offer
AB&P offers sales tax preparation and filing services.
They can help manage prepayments and filings to ensure compliance.
Contact Information
- 📞 Phone: 310-534-5577
- 📧 Email: contact@abandp.com
- 📧 Media Inquiries: media@abandp.com
