shirleyh88
Employee Tax Expert

Business & farm

Hello Ccardoza21,

 

Thank you for your question. I am happy to assist you.

It depends on the situation that you are in:

  1. If you are a single-member LLC (sole proprietor), you do not need to file business tax if there is no activity during the year.
  2.  If you are a multi-member LLC (a partnership), you are expected by the IRS to file a Partnership return even though there is no activity.
  3. If you have elected to be taxed as an S-Corporation, you are required to file Form 1120-S even though you do not have activity from the S-Corporation during the year.

Please refer to the link below for reference:

https://ttlc.intuit.com/community/business-taxes/discussion/if-i-own-an-llc-but-have-not-made-any-mo...

Please let me know if you have any questions.

 

Thank you,

Shirleyh88

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