FindLaw | Find a Lawyer. Find Answers.
Are you a legal Professional?
Corporations: Which Tax Forms Should You Use?
A corporation generally takes the same deductions as a sole proprietorship to compute its taxable income, and a corporation can also take special deductions. The profit of a corporation is taxed to both the corporation and to the shareholders when the profit is distributed as dividends. However, shareholders cannot deduct any loss of the corporation.
If you are a corporation or an S corporation, use the information in the charts below to help you determine some of the forms that you may be required to file.
Note: the tables below contain links to Internal Revenue Service (IRS) forms in PDF format.
| If you are a corporation or an S corporation then you may be liable for... | Use Form... |
| Income Tax | |
| Estimated tax | 1120-W (corporation only) and 8109 |
|
Employment taxes:
|
|
| Excise Taxes | Refer to the Excise Tax web page |
| If you are an S corporation shareholder then you may be liable for... |
Use Form... |
| Income Tax | 1040 and Schedule E |
| Estimated tax | 1040-ES |
from the Internal Revenue Service
FAQs
- I have an idea for a business. What is the first thing I should do?
- What legal problems does a business typically encounter after it is organized and operational?
- How does a franchise work?
- What are operating expenses?
- How do I go about financing my business?
Small Business Center Forms
Cost-effective legal forms to manage your small business.LLCs, Corporations, Corporate Dissolutions, Aged Shelf Corporations. We will beat any competitor's price on Registered Agent or Incorporation services!
Legal Ace.com has the turn key online system to make starting a corporation easy and affordable.
Form a corporation or LLC quickly and easily. From LegalZoom, the #1 legal document service.
- Order LLCs or Corporation, Registered Agent, Trademark, or Dissolution Service or buy Corporate Kits & Seals. One stop shopping!