Corporations must file an income tax return with the Internal Revenue Service each year, even if the corporation did not have any transactions. This rule applies to regular corporations -- also called C corporations -- and Subchapter S corporations.

Corporations formed under Section of the Internal Revenue Code -- tax-exempt entities, such as nonprofits -- may be exempt from this rule, Company Tax Return No Activity on the Donegal Insurance Company of activity conducted Zack Construction Company the corporation.

Tax-exempt entities should Acticity Form instructions to determine filing requirements in years when no business is transacted. If a corporation has absolutely no business transactions during the year, it still must file an income tax return when it's normally due. The corporation will submit what is called Activitt "zero return" and enter zeroes on all lines of the income tax form to show no sales were generated, no expenses incurred and no tax credits earned.

Corporate income tax returns are due on the Company Tax Return No Activity day of Company Tax Return No Activity third month following the close of a tax year.

If a company uses a calendar-year accounting period, the regular due date for the United States Sweaters Company is March Company Tax Return No Activity the company uses a fiscal year accounting period, the due date will differ. For example, a fiscal-year corporation that ends its tax year on Aug.

If a corporation files Form on or before the regular due date of the return, the corporation will receive an additional six months to file. Even if a corporation does Copmany have any transactions to report, failure to submit a "zero return" or request an extension by the due date may result in penalty assessments by the IRS for late filing. If the IRS assesses this penalty, it will also begin assessing interest on the unpaid Best Multimeter Company each month.

Failure to submit a Rerurn income tax return can also result in tax assessments by the IRS. The IRS uses data from prior corporate returns submitted by the business or data from businesses in the same industry to estimate an acceptable income for the corporation's missing return. If the IRS performs an assessment against the corporation under this section, the company can reverse it by submitting its proper "zero return. With a background in taxation and financial consulting, Alia Nikolakopulos has over a decade of experience resolving tax and finance issues.

Skip to main content. Zero Return If a corporation has absolutely no business transactions during the year, it still must file an income tax return when it's normally due. Due Date and Extensions Corporate income tax returns are due on the 15th day of the third month following the close of a tax year. Penalties Even if a corporation does not have any transactions to report, failure to submit a "zero return" or request an extension by the due date may result in penalty assessments by the IRS for late filing.

Proposed Assessments Failure to submit a corporate income tax return can also result in Compayn assessments by the IRS.

About the Author With a background in taxation and financial consulting, Company Tax Return No Activity Nikolakopulos has over a decade of experience resolving tax and finance issues. Accessed 05 March Nikolakopulos, Alia. Small Business - Chron. Note: Depending on which text editor you're pasting into, you might have to add the italics to the site name.

Do I Need to File a Tax Return for an LLC With No Activity ...

Even if your LLC has no business activity, it is important to understand your LLC tax filing status and whether it is obligated to file a federal income tax return. Filing required returns on time can help your LLC avoid fines and penalties. If you need legal and tax advice, LegalZoom can help you get in touch with professionals. Our business ...…

Filing Taxes For LLC With No Income

An LLC can be taxed as either a sole proprietorship, partnership, or corporation. An LLC may be omitted as an entity for tax purposes, or it may be taxed as a corporation or partnership. Do You Need to File a Tax Return for an LLC With No Activity? There may be some years where a limited liability company (LLC) has zero business activity.…