![]() LLCs with no income but deductible expenses can offset personal income or future business income through the net operating loss deduction. It’s important - and the law - to file taxes for an LLC with expenses and no income. No matter your LLC tax classification, operating at a loss or with no income doesn’t preclude you from filing your tax return. Check your state tax authority website for state tax return information. Businesses are registered at the state level, so you might be required to file a state return while being exempt from federal filing. ![]() ![]() LLCs have the unique ability to be taxed in many ways, and each taxation status has a set of rules for business tax filings.ĭon’t forget about state tax filings. Whether you’re legally required to file business taxes with no income depends on how your LLC is taxed. Absent any business activity, you might be able to skip filing your federal LLC tax return, but remember to file your personal tax return when you earn income. ![]() You must always file your LLC taxes when you have business activity: revenues, deductions, and credits. It’s not required in every case, but you should expect to file your LLC taxes every year that your business exists, even if you have little to no business activity.ĭo I have to file taxes for an LLC with no income? After you hit the “pause” button on your business, it might seem counterintuitive to file a business tax return.
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