I will preface this post with saying that at the time, no, I was not ready to start a company, nor did I know what I was getting myself into. However, I would appreciate any advice that can be given to help me in this situation:
In December 2013, I started an LLC in Texas. As one could probably assume, life and work got the best of me and the company did not takeoff as planned (ZERO income company). From 2013-2018, I moved no less than 5 times throughout the United States. Therefore, I did not get any notifications from the Texas Comptroller's Tax Department. Cue a recent and final move, where I realize it would be wise to close up all loose ends. I fill out and complete all annual franchise tax reports, operation information reports, and send it in to the Texas Comptroller's office with any late fee that are due for the late completion of the annual franchise tax report.
I receive notice that the company cannot be terminated (or reinstated to be terminated) because I owe $1400 in taxes based on an ASSUMPTION that my company would have made money per the industry standard. Mind you, my company never made a single cent. Therefore, I have nothing to be taxed. Has anyone dealt with this issue or have advice? I am at my wits end. I have no problem paying what is owed, but I refuse to pay taxes on something that isn't taxable.
In December 2013, I started an LLC in Texas. As one could probably assume, life and work got the best of me and the company did not takeoff as planned (ZERO income company). From 2013-2018, I moved no less than 5 times throughout the United States. Therefore, I did not get any notifications from the Texas Comptroller's Tax Department. Cue a recent and final move, where I realize it would be wise to close up all loose ends. I fill out and complete all annual franchise tax reports, operation information reports, and send it in to the Texas Comptroller's office with any late fee that are due for the late completion of the annual franchise tax report.
I receive notice that the company cannot be terminated (or reinstated to be terminated) because I owe $1400 in taxes based on an ASSUMPTION that my company would have made money per the industry standard. Mind you, my company never made a single cent. Therefore, I have nothing to be taxed. Has anyone dealt with this issue or have advice? I am at my wits end. I have no problem paying what is owed, but I refuse to pay taxes on something that isn't taxable.