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kristalyn-cadare
New Member

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?

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). 

1 Reply
DanielV01
Expert Alumni

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?

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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