New Jersey S-Corp minimum tax I have a full time job and I'm the only one running the S corp at my spare time. I had about $4,200 loss in 2014, and $1,800 in 2013.
1. Do I still need to pay annual NJ S-corp minimm tax $375 when filing tax return? I just used TurboTax for business and got 0 tax due. Not quite sure why. I paid $375 for 2013 told by TurboTax.
2. Do I need to pay salary to myself?
3. Will there be any issues from IRS / NJ if I keep the S-corp like this, paying no salary and having losses? I want to try a couple of more years to see whether I can take off.
Thanks ! |