Corporations file Schedule M-3 (Form 1120) to answer questions about their financial statements and reconcile financial statement net income (loss) To create and register an LLC, visit the North Carolina Secretary of State's Office and conduct a name search for your intended business name.Corp is recognized as a separate taxpaying entity, filing its own return (Form 1120). It is subject to corporate income tax on any corporate profits. If you have any questions about annual reports there are Frequently Asked Questions (FAQs) and YouTube Videos on how to file online. The plaintiff must determine if the defendant is a corporation and sue in the complete corporate name.