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Old 04-25-2018, 12:41 PM
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Join Date: Apr 2018
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C-Corp Taxes

Hello All,

I just found out that I have liens against my C Corporation in the State of Ohio. I never filed state or government taxes (2016 - 2017) on business because I never had any income those years I was in business. This year I have started to receive income. What all do I need to do to get back on track?


Thanks,



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Old 04-25-2018, 11:33 PM
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Join Date: Oct 2010
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in general an individual who doesn't have sufficient income might not have to file a tax return,however, the rules are different for corps; Under the tax code, every U.S. corp that's in business to make a profit must file a tax return regardless of whether it made any money. I mean Corps must file an income tax return with the IRS each year, even if the corp did not have any transactions. the corp will submit what is aka a zero return and enter zeroes on all lines of the income tax form to show no sales were generated, no expenses incurred and no tax credits earned.
Ohio state imposes gross receipts taxes instead of corporate income taxes. even if no tax is due, you need to file your corp returns with OH dept of taxationYou must report profits / losses on your corporate tax return with dept of taxationof OH. The best way is to contact the dept of taxation of your home state of OH for more info in detail; https://www.tax.ohio.gov/faq.aspx



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