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Table of Contents-Corporations (1120 & 1120S)

1. What do I do with this card that I have received from the Florida Dept of Rev regarding the Annual Report?
2. How much do I have to pay for an Annual Report and where do I send it to?
3. What is an S Corp and why would I want to be one?
4. How do I become an S Corp?
5. I am an S corporation.  Do I have to pay myself payroll?

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What do I do with this card that I have received if from the Florida Dept of Rev regarding the Annual Report?

This card is for the filing of your Annual Report. 

The State of Florida every year requires that you file a annual report letting the State know who your registered agent is, who your officers are and what your address is.  There is a fee involved.  You are required every year to file this form.  If you do not file this form your corporation will be dissolved. 

You can do one of three things

1. To file and pay your report on line (credit card will be needed) - Go to www.sunbiz.org click on the button that says "Click here to file the 2006 Annual Report or Amended Annual Report!"  This button requires you to file and pay online.  I does not allow you to print and send a check.
2. To print the form and send with a check - Go to www.sunbiz.org click on the button that says "Click here to download the 2006 Annual Report or Amended Annual Report Form".
3. Call or e-mail at 746-3446 or Renee@TNTtaxes.com and we can prepare the form for you for a fee.

for more info go to www.sunbiz.org or call (850) 245-6051

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How much do I have to pay for an annual report and where do I send it to?

2006 Annual Report Filing Fees           

• Corporations - $150
• Limited Liability Company (LLC) - $50
• Limited Partnership (LLP)    $500

Mail completed report to:

Division of Corporations, PO Box 6478, Tallahassee, FL  32314

Courier Address (overnight delivery)

Division of Corporation, 2670 Executive Center Circle, Suite 100, Tallahassee, FL  32301

for more info go to www.sunbiz.org or call (850) 245-6051

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What is an S Corp and why would I want to be one?

S Corp stands for Small Business Corporation.   Avoid double taxation. 

Income or loss from and S Corp flows directly through to your personal tax return.  Whereby avoiding getting taxed at the corporate level and the personal level.  

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How do I become an S Corp?

To become an S Corp you must first be incorporated.  After you have become incorporated you need to file Form 2553-Election by a Small Business Corp.  To print this form out go to http://www.irs.gov/pub/irs-pdf/f2553.pdf 

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I am an S Corporation.  Do I have to pay myself payroll?

YES!  The government requires that you pay yourself what you would pay someone else to do your job. 

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