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Multi-member LLC was formed to acquire a business and the acquisition was unsuccessful. No business was conducted and the LLC is eligible to file the Short Form Cancellation Certificate LLC-4/8. The $800 minimum franchise tax is clearly not due, per R&TC 23153(f)(1). However, I can find nothing authoritative prescribing whether the LLC must file a F-568 or F-1065.
The F-568 instructions (p. 5 and p. 10) suggest that a 568 is required, so we plan to file one with a statement explaining that no minimum tax is due because cancellation was via LLC-4/8.
The LLC obtained a TIN in order to open a bank account, and opened an account. Must it file a 1065? I am concerned about penalties for failing to file, even though no business was transacted. Thanks!