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March 30, 2023
Question

tax filing for newly formed LLC

  • March 30, 2023
  • 1 reply
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Hello, I just received my articles of incorporation for a Wyoming-based personal business today (March 30); it is a single-member LLC. Even though I don't plan to start business operations until May - would I still need to file a Schedule C form come April 15?

    1 reply

    March 30, 2023

    No, if you are a single member LLC you are considered a disregarded entity and do not need to file a Schedule C until you begin operations and earn income. Since you won't start until May, you will not include your business on your return until you file your 2023 return in 2024. 

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