By: Kislay Banka Stay on top of corporate tax filing deadlines to ensure that you avoid frustrating fines. Your due dates vary based on your entity type and whether you follow the calendar year or the fiscal year for tax and accounting purposes.
TAX TYPE |
ENTITY TYPE |
FILING DATE |
Federal & State Taxes | S Corporation (1120S) Partnership (1065) | 2.5 months from the fiscal year end, or March 15 if following the calendar year |
C. Corporation (1120) | 3.5 months from the fiscal year end, or April 15 if following the calendar year | |
Extensions for Federal & State Taxes | C. Corporation (1120) S Corporation (1120S) Partnership (1065) | March 16 for S Corps and Partnerships April 15 for C Corps
|
TAX TYPE |
FORM TYPE |
FILING DATE |
Property Tax | Form 571L | April 1 Filings after May 7 are considered delinquent. Entities with physical presence may need to file this tax with certain states and/or cities. |
Contract/Vendor Payments | Form 1099 vendors | January 31: Report payments made to 1099 vendors and contractors (Copy A). Copy B is due to your contractor by February 15, 2020. The penalty for late filing varies from $50 - $270. |
Annual Report & Franchise Taxes | Annual Report or Franchise Tax Form (varies by state) | March 1: Delaware corporations For other states, it is usually due the same month of the company’s incorporation. These filings are due to the state of incorporation. |
Payroll Taxes | W2, 940 | Quarterly returns are due for Federal and State taxes by the end of the month following the quarter’s end. For example, fourth quarter 2019 payroll taxes would be due January 31, 2020. Annual reports are due with the federal and state entities by the end of the month following the year’s closing. |
An expert Chugh CPAs, LLP tax professional can take care of your tax deadlines and help you reduce your corporate tax burden. Contact us at info@chugh.net for a corporate tax consultation.
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