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I live in Dallas, TX. I have a C-Corp in Delaware that was…

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Hi there. I live...

Hi there. I live in Dallas, TX. I have a C-Corp in Delaware that was filed in May of 2017. We have no revenue right now (not even selling a product right now, just building it). Do I need to file any taxes for the C-Corp?

Submitted: 4 months ago.Category: Finance
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3/10/2018
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
taxmanrog
taxmanrog, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 1,140
Experience: Licensed CPA, MA, MST with 31 years' experience. Teach Accounting and Tax courses at Masters level.
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Hi! Welcome to Just Answer. Thank you for giving me the opportunity to answer your question.
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Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
If you own a corporation, then you are required to file even if there was no business. The IRS determines your start date to be the earlier of incorporation, having stockholders, or starting business. Since you have already Incorporated, the IRS rules state that you are in business and therefore a return must be filed.
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Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
I hope this answers your question. If you have any more, feel free to ask and I will be happy to answer.
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Customer reply replied 4 months ago
What do I have to do to file?
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
Thanks! Have a great weekend!Roger
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Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
If you are a C corporation, you need to file a Form 1120.
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Customer reply replied 4 months ago
Ok thank you
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
The due date of a C corporation tax return has been changed effective last year. It is now due April 15th, so you have some time yet. It used to be due March 15th.
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Customer reply replied 4 months ago
Oh that's good to know
Financial Professional: taxmanrog, Certified Public Accountant (CPA) replied 4 months ago
If you have anymore questions, please feel free to come back and ask for me.Also, please don't forget to rate me, as that is how questions are closed.
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