Have a Tax Question? Ask a Tax Expert
Is the LLC closed? Did you incur startup costs?
Please provide information to the details requested and I will assist you further.
The LLC is closed because it was formed strictly to purchase this franchise. It did incurre expenses, i.e. legal, forming the LLC, etc.
You will be able to write off the expenses incurred in starting the LLC and other expenses in the year the LLC closes.
or ceases operation