Also, the 1120-S is due by March 15th. After that date, the late filing penalty is $200 per month, per owner/shareholder. So don't be late. Doing things wrong that first year for a corporation can be quite costly on the tax front, and can easily bankrupt your business before it even has a chance to get off the ground. So perfection that first year with the 1120-S is not an option.... it's a must.
