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I had LLC in NJ in 2017 which i closed end of 2017. My

overall income for 2017 is...
I had LLC in NJ in 2017 which i closed end of 2017. My overall income for 2017 is below 10000. I lived in foreign country in 2017 and still I am here so I am not living in the US anymore. If below 10000 I know that I dont have to file a return to NJ. But do you think it is still a good idea to still file (if i file i file as a NR), to formally indicate that I am not a NJ resident anymore? I will file since I still had my LLC open in 2017. I was single owner and formally closed it with NJ at their online system end of december. I mean, whether I file now or not, I will not file to NJ again in the future. So if I dont file, later will they not start thinking " this person was filing as resident before, but he has not been filing" and still they will consider me as their resident? I dont have anything in NJ now except a mailbox for convenience. even my driver license there has expired. All my life is in the foreign country now. Note: I am filing federal anyway.
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3/17/2018
bkb1956
bkb1956, Enrolled Agent/Real Estate & Corporate Paralegal
Category: Capital Gains and Losses
Satisfied Customers: 5,811
Experience: 20+ years of experience as a tax preparer; 30+ years of experience as a real estate and corporate paralegal
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Welcome back to Just Answer.

An single member LLC is a disregarded entity for tax purposes, and you report the income and expenses on Schedule C of your 1040.

If you are a US resident, you cannot file Form 1040NR. You will have to file Form 1040.

As to NJ, if your income from all sources was less than $10,000, you do not have to file a NJ state return.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

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Customer reply replied 1 month ago
I never said I will file 1040 NR federal. Of course I will file normal return for federal.
I was asking for NJ. given my situation, do you think it is necessary to file or not, I mean, if I dont file now and nothing later, is it going to be like I never formally ended my residency with them and they might still expect tax return from me or consider me their resident and 5 years from now come after me saying I never formally indicated to them that I was not resident....

I apologize if I misunderstood you here: (if i file i file as a NR).

You're not required to file, but if you want to file one last NJ state return as a nonresident, that will close the door to NJ thinking you are a resident and you haven't filed.

Of course, you will list your foreign address on your federal and NJ state returns.

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Customer reply replied 1 month ago
ok I will file then and yes with my foreign address. And one last thing, should I write "FINAL RETURN" near the LLC name on schedule C, since it is closed now? Or is there another way to indicate it is final return? And that would be the only thing I show as NJ source in there? OR I would show dividend, stock trading and amzon book sale royalty payment income as NJ source too, because I had not updated my address with those payers in 2017. Either way it doesnt affect my taxes but I want to show it with correct source

No. As I mentioned, an LLC is a disregarded entity for tax purposes. As long as you dissolved the LLC at the NJ state level, that ends its existence.

If you were outside of NJ for all of 2017, you would include only NJ source income.

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Customer reply replied 1 month ago
I was outside NJ all 2017... so yes I dissolved it formally with NJ at the end of 2017, but I still must show its schedule c no? and so since I was outside of NJ all 2017, and since the LLC is disregarded, even if its address was NJ address on schedule C, it is not NJ income? so nothing is NJ income then? then what do I show in NJ non resident form for NJ income, nothing? Then what is the purpose

Yes. You will show the income and expenses on Schedule C for 2017 for the LLC as NJ income because it was not dissolved until the end of 2017.

bkb1956
bkb1956, Enrolled Agent/Real Estate & Corporate Paralegal
Category: Capital Gains and Losses
Satisfied Customers: 5,811
Experience: 20+ years of experience as a tax preparer; 30+ years of experience as a real estate and corporate paralegal
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Thank you for the positive rating of my answer. It is very much appreciated.

Enjoy the rest of your weekend.

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bkb1956, Enrolled Agent/Real Estate & Corporate Paralegal
Category: Capital Gains and Losses
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