![]() ![]() C corporations: A legal structure for a corporation in which the owners or shareholders are taxed separately from the entity, a C corporation is the most prevalent type of corporation.The two main types of corporations that must file federal tax returns are: For example, unlike a corporation, a limited liability company (LLC) is not a separate tax entity, so it does not pay federal income taxes (although some states do require LLCs to pay taxes). Whether these companies must pay income tax or not is a different question. that generates net income during a tax year is required to file a corporate income tax return. Does every corporation file income tax returns?Įvery company in the U.S. Read on for a guide to preparing and filing corporate income tax returns. The level of intricacy in corporate tax return filing requirements, coupled with frequent changes in tax laws, makes the job of accurately filing corporate taxes time-consuming and complicated. ![]() Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal - and perhaps international - tax authorities. As a corporate tax professional, you know the complexities of complying with business taxation requirements.
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