I have an LLC. It made no income this year. Do I need to file any tax return forms for it? If so, what forms are should I file?

My LLC is incorporated in the State of Illinois. I'm a US citizen. I've already filed my personal tax return but I didn't really include any of the information regarding my LLC on those forms.

  • are you in the US? What state? LLC's are governed by state laws, they're disregarded entities/partnerships from the IRS perspective. – littleadv Mar 7 '12 at 17:27
  • Edited my question to clarify this. – Kurtis Nusbaum Mar 7 '12 at 17:31
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    If your LLC has items purchased in previous years that are being depreciated, you might have a net loss if the LLC had no gross income this year, and this loss cannot be deducted unless it is reported. If the LLC had gross income that was exactly equal to the deductibles (depreciation plus other expenses) giving a net LLC income of zero, then this should also be reported. – Dilip Sarwate Mar 7 '12 at 18:02

According to the Illinois Department of Revenue, you don't have to file any taxes that are specific to a LLC, only your personal taxes.

LLC on Federal level is disregarded, instead you submit all your business income/expenses on Schedule C. On the state level - it seems to be the same (only individual tax return). Consult your state certified tax specialist.

That is not the case in other states, for example in California LLC has to file its own tax return and pay its own taxes, in additional to the individual taxes.

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  • So if I didn't have any expenses do I need to file a Schedule C? I've already filed my federal tax return and I don't think I included a Schedule C. – Kurtis Nusbaum Mar 7 '12 at 18:01
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    If there's nothing to fill then there's nothing to file, you don't have to file schedule C if its empty. – littleadv Mar 7 '12 at 18:17
  • Awesome. Thanks. Yea, we didn't buy anything and we didn't sell anything. So I think we're in the clear. – Kurtis Nusbaum Mar 7 '12 at 18:45

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