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  1. #1
    Wyrd Wind's Avatar
    Wyrd Wind is offline Junior Member
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    Oct 2009
    Location
    New Jersey, US
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    20

    In terms of taxes, should I register the business pre/post Dec31st?

    One of my weakness is taxes.

    So, my question is... if I register the business but don't open my doors for business some time later, will I still have to make some sort of tax report which would be zero?

    In other words, from the time it takes to register the business to the time it takes for us to actually make our first sale, is there some sort of tax procedure I'll have to go through?

    It's an S.M.L.L.C. in New Jersey.

  2. #2
    DerekS is offline Senior Member
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    Jul 2009
    Location
    Baltimore, MD
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    255
    If the business earns no income, you'll owe no taxes.

    In MD, however, a "personal property" tax filing of $300 is required every year for business entities- regardless of profits or losses. Your state may have something similar.

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