I created my single member LLC in March 2024 registered in California. I submitted a termination short form cancellation in October 2024 since I did not conduct any business (nor make any profits) with the LLC and the LLC's status has been displayed as "terminated" on the bizfileonline.sos.ca.gov website since then.
I've already called and confirmed with the FTB CA and they said that the $800 annual fee should be waived since I filed the termination short form and the LLC has been terminated.
Is there anything else I need to file when filing my taxes for federal and CA state in regards to my single member LLC closing? 1040 schedule C or 568 Form? Any other forms?
Will turbotax offer services to help me with this in the process? I use turbotax to file my taxes every year.
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Your single-member LLC activity would normally be reported on your personal Form 1040 tax return on Schedule C. If you had no activity for the year, you don't need to include that form in your return.
If you obtained an Employer Identification Number (EIN), you may receive correspondence from the IRS asking about the company. You can call the agent listed on the letter and explain what happened.
You may also hear from the state of California for the same reason, although filing the termination form should answer any questions they have.
Thanks for the response.
If I have moved homes (my LLC was tied to my old apartment address), do I need to inform the IRS of the my business's address change with a for 8822-b even if it was terminated?
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