Non Resident Alien

Forum|Forum|6 years ago
March 10, 2020
1 reply
15 views

Hi I am an Entrepreneur from India and have set up a 2 member LLC in Delaware.

We occasionally visit the U.S for business purposes and we have not really started our business

as our software is still in the development phase. So there is no money that we earned or spent in the USA. Ours is a LLC partnership entity. We don't have any employees or any expenses that we want to claim. Both of us have ITIN's. I would like to know if we have to file any return whether from the LLC's end or in our Individual capacity when there is absolutely no income nor expenses.

Best answer by DavidD66

No. A multi-member LLC is treated as a partnership for income tax purposes - unless you have elected to be taxed as an S-Corp. Partnerships and corporations have different standards for filing an information return or income tax return.

A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
A domestic corporation (including a Subchapter S corporation) must file an income tax return whether it has taxable income or not, unless it's exempt from filing under section 501.

DavidD66Answer

Level 15

A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
A domestic corporation (including a Subchapter S corporation) must file an income tax return whether it has taxable income or not, unless it's exempt from filing under section 501.

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