I started an LLC with a few friends, just to legitimize a race series we host. We have an LLC in Pennsylvania with our 7 members. We've earned $0 from it. We have an EIN. And I cannot find any clear cut instructions on how to file taxes. I'm getting a weekly robo call saying I need to file my monthly sales tax revenue. I don't have any revenue to file for. I didn't think it was this difficult to have an LLC, and I'm at a total loss on how to do any of this.
Call the Pennsylvania Department of Revenue and ask for help, I am sure they will be glad to help.
Change the filling to yearly if you are not planning on making any profit. You will then file a 0 income. Even if you don't make any money you have to file.
https://www.revenue.pa.gov/OnlineServices/FileYourTaxes/Pages/default.aspx
Again, do not be afraid to call. If they are like in Florida, they are extremely helpful in teaching you what to do over the phone in order to make sure they get your money :D
I can't help but I am very interested as I just made an LLC last month.
In reply to Slippery :
That's good to know.
Speak with a pro. Find a CPA/Accounting Service that does tax prep work.
In a nutshell, a good tax preparer is free. I say that because the preparer knows how to save you more than what their fee is.
I ran a small business for 9 years. Sales tax was not an issue I had to deal with but, it was probably because of my CPA that the question of sales tax was never an issue. Your state probably requires some form...that the CPA knows of...that verifies that you are not a state sales tax collector. The CPA will help with finding you other "deductions" that work to your advantage.
You'll need to log in to post.
