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| *Loan,banking and credit>>>income tax |
When does a C Corp need to pay corporate income taxes and sales taxes? Monthly? Quarterly? Annually? thx? |
For a profitable company, how do you determine when you need to pay taxes? Income taxes will need to be paid quarterly. The actual due dates will dependent upon the fiscal year of the corporation if something other than calendar year. Sales taxes are a state and local issue and vary by state. In many cases the filing and payment requirements will be based on the level or volume of your gross sales. The higher they become the shorter the filing period. Your initial filing period will be based on what you say your first year sales will be on your registration with the taxing agency. All businesses make tax deposits throughout the year in advance of filing taxes. The frequency and amounts depend on how much they paid previous years. If you lose money every year, you can probably get away with not making any deposits. Form 1120, the "C" Corp tax return, is due on March 15 following the close of the calendar year. They have until that time to make deposits close to the amounts they expect to pay. |
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