SweetieJean is correct. If you are a husband and wife, you would not qualify as a Husband and Wife Qualified Joint Venture if you have an LLC unless you live in a community property state.
1120:
Who Must File Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income. Domestic corporations must file Form 1120, unless they are required, or elect to file a special return.
1065:
Partnerships and corporations have different standards for filing an information return or income tax return.
- A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
- A foreign partnership generally must file an information return if:
- It has gross income effectively connected with the conduct of a trade or business within the United States,
- It has gross income derived from sources in the United States, or
- It is making an election, such as an election to amortize organization expenses.
1120S:
- A domestic corporation (including a Subchapter S corporation) must file an income tax return whether it has taxable income or not, unless it's exempt from filing under section 501.
A Schedule C for Sole Proprietorships is not required to file a return.
