Two clients formed an LLC registered with a Brooklyn, NY address. It's recognized as a partnership for IRS purposes. Their only business is an online podcast which they earn revenue for through streaming contracts--no physical studio, no events, no merchandise sold, etc. DO THEY HAVE TO FILE A NYC-204 FOR 2020???
I’m thinking the same thing. I’ll just file it regardless; it’s a no liability return, so no harm done if it’s unnecessary.
I've yet to find a tax expert who understands these little nuances pertaining to online services and the instructions seem to talk around the situation.