Legal Question in Tax Law in New York

Is it to early to fill out form 1120 S?

I just filled out form 2553 to be elected to s corp and mailed it out yesterday,2/2/2009. Do i still fill out a regular 1120 form or 112o s for 2008. How long do i wait to fill out form 1120 s?


Asked on 2/03/09, 8:36 pm

2 Answers from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: Is it to early to fill out form 1120 S?

SINCE YOU JUST FILED THE FORM, IT IS EFFECTIVE FOR THE CALENDAR YEAR 2009. THEREFORE, FOR 2008 YOU FILE 1120. FOR 2009 YOU FILE 1120-S. YOU SHOULD CHECK IF NY REQUIRES YOU TO FILE A STATE FORM 2553 ALSO TO BE ELIGIBLE FOR SIMILAR STATE FILING.

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Answered on 2/04/09, 10:54 am
Walter LeVine Walter D. LeVine, Esq.

Re: Is it to early to fill out form 1120 S?

THE FORM IS EFFECTIVE FOR 2009. FOR 2008 YOU FILE 1120, FOR 2009 YOU FILE 1120-S. YOU MAY HAVE TO FILE FOR "S" TREATMENT A SIMILAR FORM WITH THE STATE OF NY, WHICH ALSO NEEDS TO BE FILED BY 2/15 TO BE EFFECTIVE.

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Answered on 2/04/09, 11:05 am


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