LLC fees in Connecticut
$120
Are LLC Fees Tax Deductible in Connecticut?
Short answer: Yes, as a business expense: Connecticut charges $120 to form an LLC; ongoing: $80 annual report. Filed online Jan 1-Mar 31. The $250 Business Entity Tax was repealed for tax years beginning on/after Jan 1, 2020.
Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Records to keep: Keep the state filing receipt, proof of payment, and your LLC's formation and annual report confirmations.
LLC fees in Connecticut
$120
General Business
Yes, as a business expense: Connecticut charges $120 to form an LLC; ongoing: $80 annual report. Filed online Jan 1-Mar 31. The $250 Business Entity Tax was repealed for tax years beginning on/after Jan 1, 2020.
Business justification
Yes, as a business expense: Connecticut charges $120 to form an LLC; ongoing: $80 annual report. Filed online Jan 1-Mar 31. The $250 Business Entity Tax was repealed for tax years beginning on/after Jan 1, 2020. Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Category
- Tax Write-Off Rules