Overview

Business Tax Forms

Schedule C

Part of Individual Tax return

C–Corporation Form 1120

For tax purposes, this organization pays corporate income taxes and generally issues dividends to its shareholders. This type of structure has a double taxation in that this entity pays corporate tax and then when property is distributed to its shareholders it is taxed again on the individual level.

S-Corporation Form 1120-S

For tax purposes, this organization allows for a pass through of profits to its’ shareholders thereby eliminating the corporate tax. Generally, this type of structure has “reasonably salaries” to its shareholders and the remainder is distributed to its shareholders and is taxed at their individual rates.

Partnership Form 1065

For tax purposes, this organization allows for a pass through of profits to its’ members thereby eliminating double taxation.