C corporation no income

Hello, I open C corporation in Delawere, 17 may, and I don't have revenue. When I need to pay tax? How much? Where I know about my tax

Answer

1 person found this helpful

This is a public user-to-user forum. It's a bit apparent you don't fully understand the requirements of a C-Corp when it comes to taxes. You *REALLY* need to seek the services of a CPA or Tax Attorney, as returns are required for a C-Corp regardless of revenue. There's also a requirement that as the owner/officer of a C-Corp, you have to take required distributions. Assuming you started in May of 2017 and not 2016, if you don't do things right then the fines and penalties that will be assessed by both the state and the IRS will make the cost of a CPA seem like a pittance in comparison. It's also highly probable those fines and penalties (which are high) can easily bankrupt your C-Corp before it even gets off the ground. Please seek professional help on this.

Was this answer helpful? Yes No
Original
SuperUser

No answers have been posted

More Actions

People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community