Can i deduct annual report fee ($300) in maryland for the s-corp? if so, where to put those amount in turbo tax business? should i put that on due&subscription?

I pay every year to the state of Maryland in the amount of $300 for annual report fee (Form1). I run a S-corp.

I have never ever deducted those amount since 2009 because i was not sure.

I found 1120s instructions but couldn't understand it.

I attached a picture for that.

please help.

5750

Level 15

May 31, 2019 6:39:08 PM

Yes. The cost of filing the annual report goes in Licensing, permits and fees. Just to be clear, it's not the only thing that can be included in that box.

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Can i deduct annual report fee ($300) in maryland for the s-corp? if so, where to put those amount in turbo tax business? should i put that on due&subscription?