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Tax.appeal.168, Tax Accountant
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Hello, I set up an Domestic LLC through South Dakota. The

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Hello, I set up an Domestic LLC through South Dakota. The company has never traded or paid wages or had any financial transactions at all. Do I need to file a form with the IRS. I reside in Australia.

Thank you in advance.

Hello, THANK YOU for choosing Just Answer. My goal is to help make your life...a little...LESS taxing.

If the LLC is a single member LLC, and since you did not generate any income, you will not be required to file any forms with the IRS or the state of South Dakota. South Dakota levies no personal income tax or Corporate income tax.

The IRS treats one-member LLCs as sole proprietorships for tax purposes. This means that the LLC itself does not pay taxes and does not have to file a return with the IRS.

As the sole owner of your LLC, you must report all profits (or losses) of the LLC on Schedule C and submit it with your 1040 tax return.

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