I registered a single member LLC in 2023, but I am still figuring out what type of business to start. Do I need to report this on my 2023 taxes? I have 0 income from it and the only expense I guess was the state filing fee (is this a valid expense). Thank you.
Your single member LLC is a disregarded entity for tax purposes and you report its income and expenses on your personal tax return.
Please read this IRS document.
For 2023, your LLC hasn't been active as you're still figuring out the type of business to start. It had no income. The state filing fee is considered an organizational cost which can only be deducted in the year in which the business begins.
Please read this IRS document.
Therefore, there's nothing to report on the LLC in 2023.
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