I just formed a brand new corporation on 12/15/06 and the calendar year ended 12/31/06.
I made no money with this corporation, buying any expenses or pay any taxes.
Do I still have to file? Does it not matter?
A Tax Pre-parer told me that I don’t have to worry about it because there is no money involved and that the S Corp did nothing. Can someone please confirm this? Thanks.
mcwagner is right. Fill out that form and send it in. The IRS always wants their forms filled out. They don’t know your company didn’t make anything. All they know is you are a registered LLC and are required to file a return. You can’t just not file anything.
Oh, and if you’re in the great state of CA (and I mean that) you get to file your $800 Alternative Minimum Tax for 2006 whether you did any business or not. I call it the “Privelege of doing business tax” because that’s really what it is. Now, in AZ it’s different. There is no such rediculous tax. Your state does it which way?
I’m in the state of NV, does NV get anything special like that?
in ny we’ve got a stupid $500 annual fee. CA and NY - thank all the anti-business liberals for all these nice taxes and fees we’ve got to pay.