Filing Arizona taxes for LLC used as a property trust

Forum|Forum|1 year ago
January 19, 2025
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I purchased a piece of land in Arizona in 2024. I bought the land under an LLC I established in Arizona. There is nothing on the land; it is vacant and just sits there. I bought it as a long term investment and have no intention to put anything on the land but just to keep it under the LLC. Do I need to file taxes? There is no generated income, no business expense, no intention to build on it, no partnerships with the LLC, it's just a simple LLC.

PatriciaV

Employee

No, you don't need to file a tax return for the LLC.

According to the Arizona Form 120 Instructions, a corporation is not required to file a tax return if it has no income for the year. Further, a single-member LLC that is a disregarded entity for federal income tax purposes reports any activity on the owner's tax return.

Read more here: IRS Single Member Limited Liability Companies

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