(SACRAMENTO) – Assemblymember Timothy S. Grayson (D-Concord) introduced Assembly Bill 2410 to reduce the LLC fees that new small businesses pay when filing with the Secretary of State to start doing business in California.
Upon introduction Grayson stated the following: “Asking new small businesses to pay a uniform filing fee without any income or size threshold sends the signal that California is closed for business. As a small business owner I know how important capital is when starting, and allowing businesses to get off the ground prior to making any revenue is critically important. While everybody should pay their fair share it makes sense that our state policy incubates rather than hinders businesses before they have made any money.”
For the first two years, AB 2410 will lower the yearly LLC fee from $800 to $400 for businesses with gross income less than $250,000 and fewer than five employees, giving many budding business owners the chance to start up without undue burden.
The bill will be heard in committee this spring.
Assemblymember Timothy S. Grayson represents the 14th Assembly District which includes the communities of Clayton, Concord, Martinez, Pittsburg, Pleasant Hill, Walnut Creek, Benicia, and Vallejo. For more information, please visit https://a14.asmdc.org/