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Level 1
December 19, 2020
Solved

Dissolution of Llc same year it opened

  • December 19, 2020
  • 1 reply
  • 14 views

I opened an llc and closed it 2 months later,  I had no income. My fiancee and I are the members listed. Do I need to file a return for the company or can I do a SCH C for it even if we have 2 members? If so, should it be in both or just one of the returns? 

Best answer by M-MTax

Yes, you do not need to file a 1065 if there were neither income nor expenses to report.

 

Re TX franchise tax see https://comptroller.texas.gov/help/franchise/no-tax-due.php?category=taxes

1 reply

M-MTax
Level 15
December 19, 2020

You're supposed to file a 1065 but you don't have to if you have no income or expenses.

Level 2
August 25, 2025

Hello, 

 

I know this is an old thread so if the company was opened and closed on the same year and had no income or expenses related to the company, it does not need to file a 1065? We are in Texas so we would need to file the no due franchise tax before closing it, right? Can that be done on this year or do we need to wait till next year?

M-MTax
M-MTaxAnswer
Level 15
August 25, 2025

Yes, you do not need to file a 1065 if there were neither income nor expenses to report.

 

Re TX franchise tax see https://comptroller.texas.gov/help/franchise/no-tax-due.php?category=taxes