Hi, do we need to file an annual report regardless of whether the company generated any revenue? I registered a LLC out of Delaware in 2020 but haven’t generated any revenue yet.

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Posting as :
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Dude don’t y’all have an accounting arm 😂😂😂

Yes you do have to file

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In general, IRS treats an LLC is much like an individual (sole proprietor). Same basic rules apply where you report taxes regardless of income or revenue.

If you encorporate, there might be a few extra steps on top of the ones a regular LLC needs to take

IANAL, but as a small business owner with a company incorporated in DE, yes you need to file both with the state you incorporated in, the states you do business in, and with the federal government.

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Probably. May need a schedule C (we use that for our Delaware LLC but I'm sole owner) with a P/L and if you're losing money it could be a pretty solid rebate this year!

That said you can only be unprofitable for so long before the IRS asks questions (my tax accountant said after 3 years unprofitable you start to raise your chances of audit substantially).

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