Kiritsis & Associates

 

Form 1120 vs Form 1120S vs Form 1120A . -- Kiritsis Law Firm Group 212 922 0005

Apr 27, 2021

Many business owners have heard of Form 1120, when tax time comes, but it is important to note the distinctions of form 1120’s type series.

What is Form 1120? This form is generally filed by Corporations, incorporated at its state of incorporation, and is taxed by its default federal tax option, as a C Corp. Form 1120 is filed by most large businesses, who often choose Delaware, as its state of incorporation, due to its favored corporate governance and state corporate income tax rules. 

What is Form 1120S? This form is typically filed by Corporations, incorporated at their state of incorporations. Although, under a strict set of circumstances, be filed by LLCs and certain trusts, in order to take advantage of some unique benefit (a common reason, for structuring, this rare business structure, is for saving self-employment taxes. Form 1120S is associated with S Corps, who are virtually always required to Form 1120S, every year.

What is Form 1120A? This form was discontinued per IRS announcements, following the enactment of the new tax law changes.  This form was used primarily to streamline tax reporting for certain, mostly smaller type, C Corps. A reason for its relative rare use, was that C Corps prone to using Form 1120A, were likely to choose S Corp tax election, and thus file Form 1120S.

 

Law Offices of Kiritsis & Associates 

Phone # 212 922 0005

Manhattan Office (Main Office):

633 Third Avenue

New York, NY 10017

Suite 1306

Brooklyn Office (By Appointment Only):

1023 74th Street

Brooklyn, NY 11228

1st Floor

New Jersey Office:

7309 Ventnor Avenue

Ventnor, NJ 08406

2nd Floor

 

ATTORNEY ADVERTISING. PRIOR RESULTS DO NOT GUARANTEE A SIMILAR OUTCOME.

We hope you would find this website useful with regards to finding potentially relevant information for your legal issue.   The Law Offices of Kiritsis & Associates PLLC is a boutique law Firm Group headquartered in Midtown Manhattan, with offices in Manhattan, Brooklyn (NY) and New Jersey.  We strive to provide professional legal services for individuals and various business entities.  Our clientele ranges from including aspiring entrepreneurs, startups to established business organizations.

We offer flat fee prices for many of the practice areas provided listed throughout our website.  For more information on the topic you may be interested, or simply to find out how our law Firm Group can help, you may click at any of our site's links.

 

We are available for existing and potentially new clients 7 days a week -- via online, phone and/or in person. 

Phone# 212-922-0005


Intellectual Property Disclaimer(s):

Copyright 2021

The materials available through this website and any other websites owned by John Kiritsis (individually and collectively, the "Website") are the property of John Kiritsis and his entities, and are protected by copyright, trademark and other intellectual property laws.  You may not use, reproduce, download, store, post, broadcast, transmit, modify, sell or make available to the public content from the Website without the prior written approval of John Kiritsis.  Be aware that any unauthorized use of John Kiritsis trademarks and copyrighted content for commercial purposes in violation of John Kiritsis's intellectual property rights will be vigorously enforced.  All other trademarks, service marks and trade names referenced in this site are the property of John Kiritsis.

Website Created & Hosted by Website.com Website Builder