2024 will be my second tax return for my scorp
On March 2024 I paid income tax 389$ for 2023.
Do I need to include 389$ in 1120s line Taxes and license when i will fill 2024 tax return?
Thank you
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was the tax in income tax imposed on the s-corp (yes) or was this income taxes you paid personally on the s-corp income (no) or was this a pass-through entity tax (yes)?
Hi.
It was annual tax for s corp 1.5% (minimum 800$ that waived at 1st year) for 2023 tax return ccalifornia
I paid it on March 2024 while filling 100s.
Should I include it on my 2024 tax return ?
Thank you
I'm assuming your are referring to the $800 minimum franchise tax fee paid to the state of California for your 2023 income tax return that was due in March 2024?
If that is correct, then yes, you will be able to deduct that on your federal S-corporate return for 2024.
Yes, thank you so much
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