Restor A Previous Version Of Legal Pennsylvania Startup For S-Corporation Forms For Free

Businesses that elect federal subchapter S status are considered Pennsylvania S corporations and are subject to the 9.99 percent corporate net income tax only to the extent of built-in-gains. Rather, shareholders in the businesses considered S Corporations are taxed at the personal income tax rate, 3.07 percent.

Use Form 1120-S to report the income, gains, losses, deductions, credits, etc., of a domestic corporation or other entity for any tax year covered by an election to be an S corporation.

Businesses that elect federal subchapter S status are considered Pennsylvania S corporations and are subject to the 9.99 percent corporate net income tax only to the extent of built-in-gains. Rather, shareholders in the businesses considered S Corporations are taxed at the personal income tax rate, 3.07 percent.

If you are trying to locate, download, or print state of Pennsylvania tax forms, you can do so on the Pennsylvania Department of Revenue. The most common Pennsylvania income tax form is the PA-40. This form is used by Pennsylvania residents who file an individual income tax return.

To register a business as an S corporation, Articles of Incorporation (sometimes called a Certificate of Incorporation or Certificate of Formation), must be filed with the state and the necessary filing fees paid. After incorporation, Form 2553 must be filed with the IRS in order to elect S corporation status.

Filing the PA-20S/PA-65 Information Return This form will report the losses, deductions, income, etc. from the operations of the business. All losses and profits of an S corporation in Pennsylvania can be passed through the business to shareholders, both residing inside and outside of the state.