If my LLC in KY is considered: "Single Member Disregarded Entity-member is taxed as an Individual Sole Proprietorship", will I still owe 175$ for the LLET? Any Ky forms?

kristalyn-cadare · ‎June 1, 2019

I was told that since I am a disregarded entity and also not a pass through entity (no members) that I should only have to do schedule C on my 1040 (no income made on this LLC last year).

DanielV01 · ‎June 1, 2019

The KY Form 725 (LLET) is required to maintain your LLC registration. How much income was earned and reported does not change the requirement. You owe $175 unless you wish to dissolve the LLC (contact KY DOR and Secretary of State in this case). That $175 is not dependent on the amount of business income generated in the year.

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If my LLC in KY is considered: "Single Member Disregarded Entity-member is taxed as an Individual Sole Proprietorship", will I still owe 175$ for the LLET? Any Ky forms?