Looking to register a business just to get the ball rolling but have no idea when I’ll get around to actually working towards it. Can I register is and literally sit on it for *theoretically* years without incurring any additional fees? Or are there other hidden fees for just having it registered? Sorry if this is the wrong place to ask this. If it is, can you point me to the right subreddit?
It really depends on which state you live in. It varies slightly from state to state. You will get a bunch of mail for your new business when you register, and many of them say things like “You HAVE to have this or that” but no. I’ve had 3 different LLCs and they only thing you have to do is file taxes for them or your LLC can be unregistered.
do you still have to file taxes if you don’t do anything after creating the entity? Like if I don’t sell anything or buy anything, like literally do nothing. I know this sounds odd and I’m asking from an extreme point of view just to understand the limits of my options.
Yes you will be required to file quarterly paperwork with the state and IRS. Zero revenue still has to be reported.