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Question: Must a partnership or corporation file a tax form even though it had no income for the year?
Partnerships and corporations have different standards for filing an income tax return.
- A domestic partnership must file an income tax form unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes.
- A domestic corporation (including a Subchapter S corporation) must file an income tax form whether it has taxable income or not.
- A foreign corporation engaged in a trade or business in the United States at any time during the taxable year or with income subject to taxation under subtitle A of the Internal Revenue Code (relating to income taxes) generally must file an income tax form, even if the foreign corporation:
- (a) has no income effectively connected with the conduct of a trade or business in the United States,
- (b) has no income from sources within the United States, or
- (c) has income exempt from income tax by reason of an income tax convention or any section of the Internal Revenue Code.
- Publication 542, Corporations
- Instructions for Form 1120-F (.pdf), U.S. Income Tax Return of a Foreign Corporation
- Instructions for Form 1120S (.pdf), U.S. Income Tax Return for an S Corporation
- Instructions for Form 1065 (.pdf), U.S. Return of Partnership Income
- Publication 541, Partnerships
- Instructions for Form 1120 (.pdf), U.S. Corporation Income Tax Return
Category: Small Business, Self-Employed, Other Business
Subcategory: Entities: Sole Proprietor, Partnership, Limited Liability Company/Partnership (LLC/LLP), Corporation, Subchapter S Corporation