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    0 Replies Latest reply on Feb 11, 2009 6:27 PM by FreeM96

    S Corp , no income, taxes?

    FreeM96 Wayfarer
      Hi All,

      I started a new S corp in Sep '08 with the hope of doing some IT consulting work. Unfortunately nothing has panned out. As of date I have no income, no expenses, no losses, and no officer salary paid.

      I am the founder/DIrector (one is required to incorp.), with no salary since the company has been largely inactive. No income so no salary. Is that fine considering I am not claiming losses or tax benefits?

      I believe I still have to pay $800 taxes, is this correct?

      THanks in advance