New LLC (Pass Through Sole Proprietor)

attacoug · ‎June 1, 2019

Hello. I created a new LLC in 2016, but I didn't really start the business until this year (2017). I had no income in 2016, and I am not claiming any of the start up expenses incurred in 2016. I will in 2017, though. What do I need to do from a tax standpoint? I already filed my fed/state taxes for 2016, before realizing the LLC may need to be included - even if there was no income. Any guidance would be much appreciated!

WillK · ‎June 1, 2019

If your only expenses were startup expenses, and your business was not operational in 2016, then you do not need to file a 2016 business return.

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WillK · ‎June 1, 2019

If your only expenses were startup expenses, and your business was not operational in 2016, then you do not need to file a 2016 business return.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

New LLC (Pass Through Sole Proprietor)