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March 29, 2025
Question

I created an LLC in N.C. last year but did not open a bank account or create any business activity. Am I required to file and what form would I use?

  • March 29, 2025
  • 1 reply
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    1 reply

    March 30, 2025

    It depends on the way that the LLC was set up.  LLCs can be set up as a Sole proprietorship, a partnership, or an S-Corp.  

     

    • If the business is a Sole proprietorship, you will need a ‌Schedule C. This'll be included in your personal tax return.  In this case, if you didn't have any business activity, you don't need to include anything for your business.  
    • If the business is a partnership, you will need to complete a Form 1065.  The business will complete a separate return, and will issue any partners a Schedule K-1 to include on their return.  In this case, if you didn't have any income or expenses from your business, you don't need to complete a return.
    • If the business is an S-Cor, you will need to complete a Form 1120-S.  It'll also be a separate return from, the business will issue Schedules K-1 to any members.  If your LLC is set up this way, you will need to file a return, even if you didn't have any income or expenses.  

    For more information refer to the following TurboTax help articles:

     

    What Is a Schedule C IRS form?

    What is Form 1065, U.S. Return of Partnership Income?

    S-Corp Federal Tax Filing Dates