Discussion:LLC? File tax Return?
From TaxAlmanac, A Free Online Resource
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Advanced Tax Questions --> LLC? File tax Return?
Discussion Forum Index --> Tax Questions --> LLC? File tax Return?
| 7 May 2008 | |
| I have a client who, for whatever reason, filed as an LLC just prior to the end of 2007. The actual operations of the LLC did not begin until 2008. Essentially the client just filed for the LLC ahead of time and basically the LLC was inactive with no assets contributed or employees prior to the year-end. In this case, because no operations occurred, no employees were hired, and no assets were held, does a 1065 and a K-1 need to be filed? Or can this be left until filing for 2008? Thanks for help. | |
| 7 May 2008 | |
| The first return of a partnership is not required to be filed until the first tax year the partnerhsip has income or deductions. Look at the 1065 instructions under who must file. | |
RoyDaleOne (talk|edits) said: | 7 May 2008 |
(3) SPECIAL RULE.
(i) A partnership that has no income, deductions, or credits for
federal income tax purposes for a taxable year is not required
to file a partnership return for that year.
| |
| May 7, 2008 | |
| Of course there might be a state requirement to file and/or pay a minimum tax or LLC fee. | |
To join in on this discussion, you must first
log in.
