My primary income is from a W-2 job (file 1040 long form). I also have two small businesses that I have always filed a Sched C on. (One is pet breeding and the other is home repair). This year, I formed an LLC in Montana as a holding corp. It's sole purpose is to hold the titles of a few vehicles. The vehicles are primarily personal but may get some occasional business usage. There is no other business activity associated with LLC.

Neither Sched C business generates much income. With deductions they are generally barely above the break even point. I'm not concerned with running business income through the LLC since there would not be much benefit to it.

Do I even need to list the LLC on taxes? I live in Minnesota, does anything need to be done in regard to state tax filing? Are there any other issues I need to be aware of?

Thank you for help!

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