Questions on filing taxes in California and on LLC's?
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Okay...I started a company in August 2011. Its an LLC. Since then...I've made absolutely no income because my store isn't even open yet. I'm still working on setting it up. So my question is: if I made no income to be taxed...Do I still file for taxes? And if I don't have to file taxes....is there a form I should fill out to state that I made NO money (if I don't have any proof I made nothing...its like saying the IRS would just take my word for it)... Additionally, in California the Annual Tax for an LLC is $800...there is also an "Annual Fee" for the LLC...if I didn't make anything...I dont have to pay this "Annual Fee" either...right? Thanks guys for all your help!...I'm on the phone with the IRS going on 70 minutes...so tryin' you guys while I wait...:) I just don't want to get any penalty fees from the Franchise Tax Board for my LLC and I want to be in good standing with the IRS...
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Answer:
What are you? If you are single member LLC and you did NOT elect to be taxed as a corporation, your form would be a 1040 with a schedule C. Since you have expenses, put them on the C.
Sally at Yahoo! Answers Visit the source
Other answers
ALL CORPORATIONS in California have a minimum $800 corporation tax.
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