These businesses typically file their taxes annually. The Secretary of State website in each state outlines how to register your business entity. Corporations, LLCs, and partnerships generally work through state agencies to create their status. The structure of your organization must be decided before you file tax returns. Quarter 4: September 1 through December 31ĭeadline: January 15 of the following year Annual tax due datesĭue dates for annual returns vary, depending on the type of business. Sole proprietorships file quarterly if they anticipate they will owe more than $1,000 in tax for the quarter. Small businesses that are classified as S- and C-corporations file quarterly if they anticipate they will owe more than $500 in taxes for the quarter filed. What is the threshold for quarterly tax filing? In addition to quarterly filings, these small businesses also file annually on April 15. These estimated tax payments are due 15 days after the quarter ends. Sole proprietorships and the self-employed file taxes quarterly. Here are key tax filing dates to remember for 2021. Check with your state’s Department of Revenue for additional deadlines. Generally, states follow federal guidelines for tax due dates: on April 15 annual federal taxes are due and typically also in each state. Only South Dakota and Wyoming have no corporate income tax or gross receipts tax for 2020. Ohio, Nevada, Texas, and Washington base their business taxes on gross receipts. The District of Columbia and 44 states levy corporate taxes. Most states also collect business income tax or taxes on gross receipts. The Internal Revenue Service at the federal level collects income and payroll taxes. While April 15 is the most recognizable tax due date, there are many other dates small and medium-sized businesses should mark on their calendar to assure they are compliant with all filing requirements.īusinesses must pay taxes in several categories. It’s that time of year again: businesses are putting together their tax filing and payment plans for 2021.
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