As a general rule, if you’ve never filed taxes for your dormant LLC, you do not need to file taxes as long as you haven’t been using the LLC and it has had no revenue.
If it’s taxed as a disregarded entity, you only need to start doing Schedule C filings for it when there’s income that needs reporting or losses that you want to declare and apply/carry forward. Basically the same with partnership-type LLCs.
If it’s taxed as an S-Corp or C-Corp, however, you do need to do tax returns from the date the election was made effective.
Of course, the above assumes you haven’t been using the LLC as an operating entity and have generated no revenue. If you have, then you should talk with a tax attorney, CPA or accountant, and understand what your options are.
2 Comments
I had an LLC formed an with my brother, and the organizer passed me a fake EIN. I got spooked and had the LLC dissolved that same year by someone else. Do I need to file a tax return? No movements, no ein?
Hi there Paloma,
The short answer is probably yes, but there are other factors that need to be considered and we will need to gather additional details from you. You can schedule a consultation with a tax attorney using the link below:
https://www.l4sb.com/services/tax-attorney-consult/