Introduction
This is a general reference indicating who, what, when, and where to send it.
Type Of Business Entity | Forms Required | Purpose | When To File | Where To File |
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INCOME TAXES – Federal Only | ||||
Sole Proprietor | Form 1040 Schedule C | Report taxable income: Schedule included in individual income tax return | 15th day of the fourth month after the end of the fiscal year | Internal Revenue Service Austin, Texas73301 |
Partnership | Form 1065 | Report taxable income: K-1 from the return to each partner to use for reporting on his or her individual tax return (Information return only); any taxes due are paid individually by partner | 15th day of the fourth month after the end of the fiscal year | Internal Revenue Service Austin, Texas73301 |
Corporation | Form 1120 | Report taxable income | 15th day of the third month after the end of the fiscal year | Internal Revenue Service Austin, Texas73301 |
S-Corporation | Form 1120S | Report taxable income: K-1 from the return to each shareholder to use for reporting on his or her individual tax return (Information return only); any taxes due are paid individually by share holder | 15th day of the third month after the end of the fiscal year | Internal Revenue Service Austin, Texas73301 |
EMPLOYMENT TAXES | ||||
Quarterly Tax Estimates: Sole Proprietor Partnership | Form 1040 ES | May be required if not withheld through wage source during current tax year | Generally April 15, June 15 and Sept 15 of current tax year and Jan 15 of the following year | Internal Revenue Service P.O. Box 970001St. Louis, MO63197 |
Regular C Corporation | Federal Tax Deposit Coupon | Must estimate current earnings and pay quarterly | Quarterly, 15th day of the 4th, 6th, 9th and 12th month of the current fiscal year | No filing – Must deposit at authorized commercial bank on or before 2 PM |
Payroll Taxes – Federal, State and Local: For all entities (sole proprietor, partnership, corporation) | Form 940 | Federal unemployment tax | Annually, January 31 | Internal Revenue Service Austin, TX73301 |
Form 941 | Social Security and withholding income tax | Quarterly, due one month after the calendar quarter ends | Internal Revenue Service Austin, TX73301 | |
Form W-2, W-3 | Withholding information statement | Employee’s copy January 31 | To respective employee | |
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| Federal copy last day of February | Social Security Admin. AlbuquerqueDataOperationsCenterAlbuquerque, NM87180 | |
Form W-4, I-9 | Employee records | Required to be on file |
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Form TWC C-3, C-4 TWC Status Report | State unemployment tax – payroll taxes are required if you have at least one employee | Quarterly | Texas Workforce Commission Cashier P.O. Box 14907Austin, TX78714 | |
Payroll Taxes – Non resident alien | Form 1042, 1042-S | Withholding for U.S. Source Income of foreign persons | Annually, March 15 of the year following | Internal Revenue Service Philadelphia, PA19255 |
Statement to Payee (can use 1047-S) | Foreign person’s U.S. Source Income subject to withholding | Copy to payee by March 15 | To recipient | |
Independent Contractor and Other Non-employee Payments: For all entities (sole proprietor, partnership, corporation) | Form 1099 | Information returns – various payments to individuals of $600 or more, including prizes, awards and other business payments | Copy to recipient January 31 | To recipient |
Form 1096 |
| Federal copy last day of February | Internal Revenue Service Austin, TX73301 | |
GENERAL BUSINESS TAXES | ||||
Franchise Tax (corporations and limited liability companies) | Texas Corporation Franchise Tax Report | Tax on privilege to do business measured by taxable capital or taxable earned surplus apportioned to state | Generally May 15 each year after the beginning of regular annual period | Comptroller of Public Accounts Austin, Texas78744 |
Sales and Use Tax: State and local (sole proprietor, partnership, corporation) |
| Tax on sales of items collected from purchaser and remitted to the Comptroller | Usually monthly, due 20th of month following sales month; some filed quarterly or annually | Comptroller of Public Accounts Austin, Texas78744 |
Business Property Taxes | Rendition Form | To report tangible personal property used to produce income | Between January 1 and March 31 | Specific local county appraisal district |
RESOURCES/ HELPFUL TIPS
The Internal Revenue Service has many publications helpful to small businesses and also provides small business seminars.
Business Tax Kit and Publications:
Phone Number: 800/829-3676
IRS General Information:
Phone Number: 800/829-1040