The difference between a corporation(1120) and an S corporation(1120S) comes in the way they are taxed.Both types have the same basic structure, using Articles of Incorporation to incorporate within a specific state or states. Both types of corporations have corporate by-laws and a corporate board of directors. An S corporation is created first as a corporation and then files to elect S corporation status. ~ FORM 1120 is the form used to report corporate income taxes to the IRS. Form 1120 is also used to report income for other business entities that have elected to be taxed as a corporation (an LLC that has filed an election to be taxed as a corporation, for example). Form 1120 must be filed by the 15th day of the 3rd month after the end of your corporation's tax year. If your corporation has a December 31 tax year-end, you would need to file this tax report by March 31 of the following year. ~ Form 1120-S is the tax form S corporations use to file their federal income tax return (not to be confused with Form 1120 for C corporations). S corporations are taxed on individual income tax returns. Every S corp needs to file one, including LLCs that are taxed as S corps. The deadline for filing Form 1120-S is March 15, 2019, unless you’ve applied for an extension. You can file the form electronically or mail it into the IRS. #corporation #scorp #ccorp #bcorp #1120 #1120S #llc https://www.instagram.com/p/BtmROnin_LA/?utm_source=ig_tumblr_share&igshid=sxkic3gwhg39