I just started a business (startup) and wanted to do the right thing by having a bank account for the company and putting all the business expenses on the business account. Now, I am in NY and I know that you dont' have to pay tax if you are suffering a loss or have no revenue except for the $300 annual franchise fee. Now, when i deposit say $1300 every month as my own money in the business bank account so that the expenses will go through, do i have to pay tax on my $1300?
Secondly, do i have to do a quarterly tax filing even if the $1300 is my own money? Up until now i never had this kind of a situation. Since it's a startup we have no revenue at this point so any money deposited is my own money going in. I never had this kind of money of my own to run a business so i am confused.