All of our operating capital has come from the founders and outside investors. We did have payroll during the last two months of 2018 (our payroll administrator is handling the payroll tax). Thanks!
A new C corporation formed within the U.S. must file a federal income tax return (Form 1120) on an annual basis. The corporation may have to file a state corporate income tax return depending upon the state of incorporation and from which state the corporation operates. Income tax filings are generally required even if the corporation has no revenue, expenses or net income. If your corporation has no revenue for the first year, but it has operating expenses, the corporation is likely in a net operating loss position. You will want to file a tax return in order to preserve these losses and carry forward the losses to future tax years in order to offset future taxable income.
Answered 5 years ago
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