Form CT186 PM , Utility Services MTA Surcharge Return, CT186PM Tax Ny

Instructions and help about Form CT186 PM , Utility Services MTA Surcharge Return, CT186PM Tax Ny

all right in this video i want to cover the question does my c corporation need to file a form 1120 tax return each year that it's in existence and i get this question a lot because a lot of people set up c corps and maybe there's no activity they never really do anything with it or there's only expenses so no profits and the question is always well do i need to bother right if the company's not making any money the short answer is yes absolutely always file the return for every year the company's in existence and i'm going to show you some of the reasons why you should be doing this so every for-profit court form under state law is by default treated as a c corp for federal tax purposes okay so that's important because by default it's a c corp if you want to file an s selection and make an s corp you could do that but for the purposes of this slide and the rules and the penalties and everything i'm just going to be addressing it as if it's a c corporation filing a form 1120. now like