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I set up a c corp in ny a few months ago in 2017 but have…

Hi Barbara.I set up a...
Hi Barbara.I set up a c corp in ny a few months ago in 2017 but have not used it at all but I want to keep it. What do i have to file in ny and for federal for a c corp with no expenses or revenue? Thanks.
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3/14/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,427
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Good morning!

Thank you for requesting me.

Give me a few moments to post my answer.

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As to federal, because a C corporation files a tax return and pays taxes, a return is required to be filed even if there is no income/expenses for the year.

File Form 1120 with all zeroes. The due date for filing Form 1120 is April 15, but because April 15 is a Sunday and April 16 is Emancipation Day in Washington, DC (a holiday), the due date is April 17, 2018.

I'll post NJ requirements next.

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Customer reply replied 4 months ago
Thanks. NY, not NJ.

Sorry. Typo at my end.

I'm reviewing NY now.

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You will also have to file a tax return in NY (with all zeroes) and pay the minimum tax of $25.

You will use Form CT-3.

https://www.tax.ny.gov/pdf/current_forms/ct/ct3.pdf

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 6,427
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Customer reply replied 4 months ago
Thanks!

My pleasure.

Thank YOU for the positive rating of my answer. It is very much appreciated.

Have a great day!

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