Do I do a Balance Sheet for C-Corp. Does the $250,000 rules, as S-Corp apply?

[reca5106]

Would the 250,000 rules in regard to Balance Sheet that applies to S-Corp. be the same for C-Corp???

Thank you.

[LeeM]

Yes, Per Page 21 of the IRS Instructions linked to below, Corporations with total receipts (page 1, line 1a plus lines 4 through 10) and total assets at the end of the tax year less than $250,000 are not required to complete Schedules L, M-1, and M-2 if the “Yes” box on Schedule K, question 13, is checked. (that would include the balance sheet).

https://www.irs.gov/pub/irs-pdf/i1120.pdf