Unfortunately, yes. Even if it's just a partial tax year, you are responsible for filing tax forms for each year that your business is in existence -- regardless of whether it is generating revenue. Rather than form an entity so close to the end of the year, entrepreneurs might want to wait until January, and start the tax year afresh, unless they have a compelling reason to do otherwise . . . which they should discuss with their attorney and accountant.
Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.