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I have an S-Corporation in Kentucky and I am getting a compliance request to file an "LLET". Do I need to file this even though I had no revenue or losses?

 
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1 Reply
DanielV01
Expert Alumni

I have an S-Corporation in Kentucky and I am getting a compliance request to file an "LLET". Do I need to file this even though I had no revenue or losses?

Yes.  For an S-Corp you will file Form 720-S.  There is a $175 "tax" due.  The purpose of the form is "Limited Liability Entity Tax" and is what allows you to keep open your LLC in KY.  Even if you had no activity and wish to close the LLC, you still are required to file this form and pay the $175.

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