Randy Bearden,The penalty is $195 Per Shareholder Per Month.Ned Carey,Truthfully, a zero asset, zero transaction return wouldn't be too much trouble.All entities that are taxed as corporations MUST FILE regardless of transactions.Corporations:Who Must File Unless exempt under section 501, all domestic corporations (including corporations in bankruptcy) must file an income tax return whether or not they have taxable income.

I'm looking for advice on a thorough shareholder agreement for us. 

I would go one step further and indicate you need a written partnership or shareholders agreement (depending on what you choose for an organisation) which details the rights and obligations of all five of you ... in addition, it will set forth the rules under which any one of you may sell (or have called) your portion of the venture (shares, etc); what happens if one of you dies, etc.If you read my post in the above reference thread, you will see a variety of options for ownership.  

I am a 30% shareholder and I was reading that because of my equity percentage, my LLC is a qualified person/entity for this transaction.

. $500 minimum makes even 18-year-olds shareholders and feelings of hopelessness evaporate once they become owners   https://www.startengine.com/bo...

Of course the 'faux media' makes it sound like everyone doing 'non conventional' REI like LOs is a sheister... because their advertisers, execs, the 'preferred shareholders' and Crown empire's 1300 'board of directors' that sit on the Global 1000 boards, don't like it when you begin figuring- out their game plays, or rock the Maritime Admiralty ship, on dry land... however I've always liked to "rock the boat," a bit.

Operations LLC:If your Operations LLC is structured as an S-corporation, the income earned by the LLC will pass through to the shareholders and be subject to self-employment taxes.

The investors in the particular deal are shareholders in that LLC.  

In a small corporation, the officers and shareholders are frequently the same person or people.  

Some more details:-Old LLC owns a bunch of properties, has one shareholder.