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February 10, 2021
Question

Do I need to enter income for a business that I only registered a name with the state for? I did not provide any services with the business last year.

  • February 10, 2021
  • 1 reply
  • 0 views
I haven't publicly opened the business so it is not in use or providing services to anyone at this time or since I registered with the state. The only information is just the state registry that I completed.

1 reply

ColeenD3
February 10, 2021

You can't report income that you didn't make.

 

However., if you had something other than an LLC, taxed as a Sole Proprietorship, check out these other business structures to see if you must file.

 

When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute. Legal and tax considerations enter into selecting a business structure.