I incorporated on 3/10/2007 and when applying for EIN, I mentioned Fiscal Year end as March. (I am now thinking probrbaly Jan 31 would have been better)
In any case,
Does my corporation have to file taxes this year ending March 31, 2007? Or on March 31, 2008?
Does it make sense to file taxes for the short year comprising 20 odd days?
2007-03-18 05:40:54 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you stated your fiscal year as 1 April - 31 March, tax year 2006 ended on 31 March 2007 and you need to file a return for 2006. If you had stated your fiscal year as 1 Feb - 31 Jan, you'd still have to file a 2006 return, it would just be for 28 more days, that's all.
2007-03-18 05:47:37 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If you are going to run a successful corporation, you will need to have some key people in place to advise and help you. One of these is a tax accountant. Please get one and ask him/her this question.
2007-03-18 13:50:54 · answer #2 · answered by J.R. 6 · 0⤊ 1⤋