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Tax Preparation: What are the income tax and financial statement requirements for a new C-Corp that didn't have any revenue during the year?
RS
RS
Rushabh Shah, CPA and Chartered Accountant answered:

Even if your company didn't have any revenue during the year as a C-Corporation, still there are certain income tax and financial statement requirements that you have to fulfill which are listed below:
Income Tax Requirements:
1) A C-Corporation must file a federal income tax return using Form 1120, regardless of whether it had revenue or not.
2)In addition to the federal tax return, you may also need to file a state income tax return.
Financial Statement Requirements:
1)Balance Sheet
2)Income Statement
3)Statement of Cash Flows
4)Footnotes and Disclosures

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