

Withholding requirement?  - cholo9

I started an LLC in NY with LegalZoom back in January and have not been paying much attention to the "WITHHOLDING REQUIREMENTS". I don't have employees and I'm not getting paid, do I need to file this?
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pitchups
You do need to file the Federal 941/940 Payroll/FUTA - quarterly withholding
forms - will all zeros if you have no employees and no payroll. You should be
able to download all the forms and instructions from the IRS website. You may
also need to do the same with local NY payroll forms (once a month/quarter) -
check on their website.

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Jakeson09
What are the penalty for not doing so?

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pitchups
As long as you had 0 liability for taxes - which would be the case if you had
no payroll, there should be no penalties, even if they are filed late. AFAIK.

