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celli11
New Member

In 2017 I started a self proprietorship. The business has a federal EIN. No income or loss was generated for the year 2017. Do I need to file Federal and State taxes?

 
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georgesT
New Member

In 2017 I started a self proprietorship. The business has a federal EIN. No income or loss was generated for the year 2017. Do I need to file Federal and State taxes?

Yes, you need to file taxes. 

All existing businesses must file a federal income tax return even if the business had no income or activity during the year. States also require businesses to file income tax returns every year, even if the business is inactive.

As a sole proprietor with a federal tax number (EIN), a tax return must be filed for the sole proprietorship, on Schedule C. Filing a Schedule C is required even if the business had no income or expenses for the year.

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