- A shareholder in a corporation is responsible for their contributions in the capital of the corporation.
- A shareholder in a corporation has limited liability for debts of the corporation, or in decisions taken.
- Benefits supplied for employees are deductible.
- Stock sale can bring extra cash to a corporation.
- Establishing a corporation will likely need a higher amount of money and time than a Sole Proprietorship or a Partnership.
- Administrating a corporation is much different than a Sole Proprietorship or a Partnership, more paperwork is needed to abide by the tax laws.
- Dividend remuneration to shareholders may not be tax deductible.
Form 1120 or 1120-A: Corporation Income Tax Return
Form 1120-W Estimated Tax for Corporation
Form 4625 Depreciation
Form 8109-B Deposit Coupon
Employment Tax Forms
Other forms as needed for capital gains, sale of assets, alternative minimum tax, etc.
Return to article: How to Register a New Business
© 2009-2012 TaxRates.cc
2011 - 2012 Tax Rate Guide and Tax Help Website