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April 18, 2022
Question

Do I file business return if I did NOT receive any income on a new business/sole proprietorship?

  • April 18, 2022
  • 1 reply
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1 reply

April 18, 2022

If you are not organized as a legal entity, then no. Even if you were an LLC, states might require a filing. Keep in mind, if you had expenses, and you attempted to make money in 2021, you still should record that. It may help you on either a liability or refund, dependent on other factors.