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Most likely you would still need to file a tax return. The filing requirement is based on gross income, not net income. So if your business is a sole proprietorship, you must file a tax return if your income from all sources (including the gross income from your business) exceeds the filing requirement. If your business files as a partnership or a corporation, then it must file a return regardless of the amount of income.
In addition, you may want to file a tax return even if not required to do so. A net operating loss from a business can be used to offset income from other sources, and if it can not be utilized in the current year, the loss can be carried back 2 years or forward for up to 20 years to offset income in another tax year. Filing the loss year return would establish that net operating loss and create a tax benefit for you.