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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income. That would mean your C corp would be required to file an income tax return for its fiscal year.
See https://www.irs.gov/instructions/i1120#idm140531961555840
Intuit offers a product, TurboTax Business, that can be used to prepare an income tax return for a C corporation (Form 1120). Note that TurboTax Business is not available as an online product nor will it run natively on a Mac; it must be installed and run in a Windows environment.
See https://turbotax.intuit.com/small-business-taxes/
Regardless of the foregoing, it is strongly advised to seek professional guidance and have the corporation's income tax return prepared by a tax professional (or at least reviewed after you prepare the return).
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
And ditto for the FAQ's, which seem to show up gain again anew each day.
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
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I formed a c-corp last year. There were no transactions in the company. I did not even open any bank account. Is it necessary for me to file taxes? If yes, how?
You do have to file C-corporation tax return.
Per IRS and their Corporations instructions: "Unless exempt under section 501 of the Internal Revenue Code, all domestic corporations in existence for any part of a tax year (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income."
The corporate returns, such as C-Corp (Form 1120) can be filed using our Turbo Tax Business package:
https://turbotax.intuit.com/small-business-taxes/