What is the name of your state? UT
Hope this is the right section for this question. It may fall under Tax section too, but I will start here first.
I registered an LLC back in 2016 as my wife and I are the owners.
There was no income or loss (basically did not do any business), so we never included this LLC and it's info in our tax returns. We file "married filling jointly."
I have been renewing it with the State (Utah) yearly, so it is still "current."
My question is, can I start using this LLC now even though I have not used it for the last 3-4 years? Or Do I need to register a new LLC?
Additional info that maybe useful: The LLC was registered as a travel related business. Most recent renewal (which was a week or so ago), I changed the NAICS code from Travel to Commercial Photography (code of 5419). That's the focus of this LLC going forward even though the name of the LLC does not have a word "photo" in it. I also removed my wife from the LLC since I wanted to make it easier/simpler for tax purpose. She is also not doing any work for it. I did buy several lenses and a couple of cameras in 2019 (and 2020). I have been taking photos and trying to sell them, but have not made any money at all. All I have is the expenses. Can I use this LLC in my 2019 tax return and claim the equipment expenses from 2019 (I have yet to file my 2019 return). I was taking photos in 2019 too or even before. Thank you!
Hope this is the right section for this question. It may fall under Tax section too, but I will start here first.
I registered an LLC back in 2016 as my wife and I are the owners.
There was no income or loss (basically did not do any business), so we never included this LLC and it's info in our tax returns. We file "married filling jointly."
I have been renewing it with the State (Utah) yearly, so it is still "current."
My question is, can I start using this LLC now even though I have not used it for the last 3-4 years? Or Do I need to register a new LLC?
Additional info that maybe useful: The LLC was registered as a travel related business. Most recent renewal (which was a week or so ago), I changed the NAICS code from Travel to Commercial Photography (code of 5419). That's the focus of this LLC going forward even though the name of the LLC does not have a word "photo" in it. I also removed my wife from the LLC since I wanted to make it easier/simpler for tax purpose. She is also not doing any work for it. I did buy several lenses and a couple of cameras in 2019 (and 2020). I have been taking photos and trying to sell them, but have not made any money at all. All I have is the expenses. Can I use this LLC in my 2019 tax return and claim the equipment expenses from 2019 (I have yet to file my 2019 return). I was taking photos in 2019 too or even before. Thank you!