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Business & farm
Hello Ccardoza21,
Thank you for your question. I am happy to assist you.
It depends on the situation that you are in:
- 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.
- 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.
- 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:
Please let me know if you have any questions.
Thank you,
Shirleyh88
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May 22, 2024
9:35 AM