Do disregarded entities still need to file business taxes?

[newuser10]

My wife and I formed an LLC and we live in Texas, which is a community property state. Our LLC is considered a disregarded entity. Do we still need to file business taxes indicating it is a disregarded entity? It's unclear to me whether or not we still need to file, even though it's considered a disregarded entity.

[DoninGA]

Yes, you have to report your business income.  It is entered on a Schedule C which is part of your personal tax return.  Each of you need to file a Schedule C for the income and expenses as an LLC in a community property state.

[newuser10]

Yes, I understand I still need to report the business income in my schedule C within my personal tax return. But, I'm wondering if I missed the business tax deadline (March 15, 2024) or if I did not miss it yet for tax year 2023, which is April 17, 2024. Thanks!

[DoninGA · Accepted solution]

No, you do not have to file your personal tax return on or before March 15, 2024.  That date is only for those filing a Partnership tax return, Form 1065 or a Corporate tax return, Form 1120 or 1120S. 

Your business is a disregarded entity who files their business income and expenses on a Schedule C that must be included with your personal tax return, Form 1040.  The date for filing a personal tax return is April 15, 2024.