Income Tax Returns

• All businesses must file an annual income tax return with the exclusion of a partnership, which files an information return. The type of business entity determines which return to file. Corporations file income taxes using Form 1120, while partnerships file a Form 1065. Due dates of the annual tax return are based on the business's selected tax year. Some businesses choose the calendar year while others operate on a fiscal year. Companies operating on a calendar year must file the annual return no later than March 15th following the end of the calendar year. Companies operating on a fiscal year must file annual returns no later than the first day of the third month following the end of the fiscal year. Businesses must also file an annual income tax return with the state in which the business is registered.