legal, united-statesI created an LLC but ended up delaying my project which would put the company to use. Is there any paperwork or legal filings that are required in the mean time, since I haven’t earned or spent a penny (or acted in any way) through the company? (The company is registered in Louisiana, USA)
If you’d have registered the company in Germany you’d have to file tax returns (every 3 months) regardless of your profits/losses. Don’t know about the US, does the IRS care?
In Louisiana you are required at minimum to file an annual report with a fee every year. After 3 years of non-compliance, Louisiana dissolves your organization automatically. Your LLC probably doesn’t exist any more. You probably also owe the state fees.
Next time be sure to consult an attorney before forming an organization like this.
Most states require you to file annual reports or else your company will be “administratively dissolved.” In other words, you may not have a company any more anyway. You should check with the secretary of state.
As for the IRS, unless you filed to get a TIN (Tax Identification Number), then they don’t care. Your profit/loss should be reported on your personal return. If your company has a TIN, then you should be filing returns to prove that you do not owe taxes.
I think some states require you to file tax returns regardless of either of these. Some only if you have a TIN. Again, you should check with the department in your state that is responsible for collecting corporate taxes.
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