Deleted
Joined: Nov 24, 2024 14:21:33 GMT -5
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Post by Deleted on Jan 25, 2011 12:13:01 GMT -5
I started an LLC a few years ago and never really did anything with it. I claimed it on my 2009 tax return because I had a few expenses trying to get it up and running (website, 800 #, small stuff totaling a few hundred bucks). I didn't do anything with it in 2010 and I am currently trying to figure out how to dissolve the LLC. If I didn't have any income or any expenses for 2010, do I need to claim this on my 2010 tax return?
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mwcpa
Senior Member
Joined: Jan 7, 2011 6:35:43 GMT -5
Posts: 2,425
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Post by mwcpa on Jan 25, 2011 19:27:53 GMT -5
LLCs are created/ended by virtue of the state laws where the entity was created and or operated. it has nothing to do with federal income tax law. check your states secretary of state or attorney general's web site (depending who administers the regulation of LLCs)
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taxref
Junior Member
Joined: Dec 31, 2010 11:09:13 GMT -5
Posts: 220
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Post by taxref on Jan 26, 2011 19:27:50 GMT -5
In many states, even zero acitivity LLCs must file a return and/or pay an annual fee.
If that is the case in your jurisdiction, you should file and pay for all past years, and dissolve the LLC before 12-31-11. That will prevent having to file/pay again in 2012.
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Post by activeonlooker on Feb 2, 2011 23:38:07 GMT -5
Make sure you dissolve it formally and in writing with the state, if required. California will continue to assess their minimum tax ($800/year I think) until they receive dissolution paperwork.
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