I have a corporation established in Wyoming for future mining operations. There has been no profit realized since its inception and minimal investment. What federal forms should I file to keep everything upfront?
I established the corporation in April of 2006
2006-11-05 04:19:42 · 3 answers · asked by MalibuSS 2 in Business & Finance ➔ Taxes ➔ United States
I am assuming that you did not file a Form 2553, Election for S-Corp status, if you don't know what form to file for income reporting. If that is the case, you need to file a Form 1120 by the 15th of March every year. Do you know what requirements must be met to maintain your corporate good standing status in Wyoming? If not, you better find out. Most states, at very least, require their form of "Annual Report" to be filed. I see this every day. PL-EASE, people, get professional help with corporations. It does not have to be expensive, only knowledgeable. There are a few guys like me out there who won't charge you an arm and leg to give you the advantages that the other people get by paying a CPA or Attorney huge fees. Check around, and good luck.
2006-11-05 04:39:34 · answer #1 · answered by Great Tax Info 2 · 3⤊ 0⤋
Only after consulting with a qualified tax professional in your state will you learn the correct answer to your question. There are too many variables for someone to provide you with complete and accurate information without knowing same, although the answerer above me has provided some very good general info.
2006-11-05 14:54:19 · answer #2 · answered by fearslady 4 · 1⤊ 0⤋
1040A should suffice. Not entirely sure. An accountant should be able to tell you quite easily. Or you could just go to thr IRS site and ask.
2006-11-05 12:31:02 · answer #3 · answered by Ricky J. 6 · 0⤊ 5⤋