Primer: Corporate Income Taxes Marion IA

If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

Local Companies

Kirkwood Community College
(319) 377-8256
3375 Armar Dr
Marion, IA
West Hope Llc
(319) 377-3771
3190 7th St
Marion, IA
Score Business Counselors
(319) 362-6405
2750 1st Ave NE
Cedar Rapids, IA
Fletcher & Associates
(515) 225-9240
4806 Aspen Dr
West Des Moines, IA
Iowa State University
(515) 296-7828
2501 N Loop Dr Ste 600
Ames, IA
Advanced Practical Thinking
(515) 727-1445
2882 106th St Ste 200
Urbandale, IA
Child Care Resource & Referral
(712) 277-1180
2101 Court St
Sioux City, IA
Symmetry Systems Inc
(641) 472-7180
504 N 4th St Ste 101
Fairfield, IA
Garvin Consulting
(319) 626-7324
340 N George St
North Liberty, IA
Indian Hills Community College
(641) 683-5127
Ottumwa, IA



If you have chosen to incorporate your business, you must file and pay federal income taxes, and, in many cases, state and local income taxes as well.

If you are a C Corporation, you will pay income taxes on income left over after business expenses. These taxes are calculated on a sliding scale that usually increases as your income rises. You may also be liable for other taxes, such as personal-holding-company taxes and the accumulated-earnings tax. You should consult with your tax advisor to see exactly what corporate income taxes apply to your company.

If you are an S Corporation, your company, in most cases, will not pay direct taxes. Instead, the income or loss is passed on directly to the shareholders, who pay the tax at the personal rate. Be aware that some states do not recognize S corporation status and tax the company directly. No matter what kind of corporation you are, your federal corporate returns are due a month prior to personal income tax returns -- the fifteenth day of the third month after the company's fiscal year ends. So, if your year ends on December 31, your tax return is due March 15, instead of April 15. Corporate estimated taxes are due on the 15th day of the fourth, sixth, ninth, and twelfth month after the end of the fiscal year. For a year ending on December 31, that would be April 15, June 15, September 15, and December 15.


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