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Yes. In this state a corporation still has to pay a fee even if it did no business. It does not have to pay corporate income tax.

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Q: If a corporation is formed and does no business for the 1st year do they still have to pay taxes?
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Save on Business Expenses?

One of the greatest business expenses of any corporation is paying for the filing of taxes. Business can have very complicated situations when they file taxes. Thus, tax professionals usually charge outrageous fees to large corporations for the filing of taxes. If a business wants to save money on its taxes, then one way to do that is by purchasing corporation tax software. This software will help a business claim all of the deductions it is entitled to and help a business file taxes as efficiently as possible. A business owner should definitely consider this option. Corporation tax software also has guides that can be very helpful.


What is a tax preparer?

a person who prepares your taxes for you weather its at home, a small business or a large corporation such as Jackson Hewitt


What would cause corporate business tax revenue to be different from sales tax revenue?

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If you had a network marketing business that never made you any money whatsoever can you file your taxes without having to mention the network marketing business?

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How is Partnership distinguish from corporation?

There are four main differences between a partnership and a corporation. Those differences are how liability is distributed, how taxes are assessed, the flexibility of running and selling the business, and how it raises capital.


Who pays taxes within an S corporation?

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Definition of a Business Taxation Lawyer?

A business taxation lawyer can help a business determine how to file its taxes. The laws regarding taxation of business are extremely complex and difficult or impossible to navigate without the help of a business taxation lawyer. Regardless, a business that fails to pay taxes as a result of confusion is just as liable as a business that intentionally avoids paying taxes. This is why it is important for any business to hire a professional to handle the legality of its taxes. Not all businesses are taxed in the same way. Even so, there are some general rules that business taxation follows. In the case of a sole proprietorship, owners report information on their individual tax return. General partnerships have their own tax return that is separate from the partners themselves. The partnership does not pay taxes, however. The partners pay them individually. In the case of a corporation, it may or may not pay its own separate taxes. Generally, a corporation pays its own taxes. However, a corporation can elect to be taxed as a partnership, or an S corporation rather than a C corporation. A non-profit corporation generally does not require taxation. However, if the non-profit earns income that is unrelated to its tax-exempt purpose, this income must be taxed. A limited liability company is essentially a combination between a corporation and a partnership. It has many of the limited liability characteristics of a corporation, while being treated under tax law essentially the same way as a corporation. A business taxation attorney can take a look at a business's financial situation in order to determine whether or not changing business types could be beneficial for tax purposes. Another way in which a business can avoid paying taxes is by hiring independent contractors rather than employees. An independent contractor is a self-employed worker. This means that while the business can control the outcome of the services provided by the worker, they can not control the way in which the work is accomplished. In the event that you are audited, you will be very thankful of the fact that you worked with a business taxation lawyer. In many cases, a tax attorney would recommend not meeting with a revenue agent without at least speaking with a tax lawyer. It is not uncommon for a business owner who attempts to handle their own taxes to find themselves the accidental suspect of a criminal investigation case.


What are three forms of business organizations?

Hi. There are several business organizational forms. First, a Sole Proprietorship is an entity utilized when a single individual starts a business and and does not plan to have employees. Sole Proprietors typically use their social securit number for their business taxes and do not obtain an individual tax id number. Another type of business form is the Limited Liability Company. This type of entity is typically formed when business owners want to limit their personal liability and he double taxation that comes with a corporation. Lastly, a corporation is a business entity whereby the actual company is considered completely separated from the individuals. Corporation tend to be the most costly business entities. I hope this helps.


A corporation files federal taxes on the wrong form and pays taxes when none is due How can you force them to do it correctly DA is not interested?

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