Alabama Form 20C Instructions 2020

You can sign up for this service yourself or add it to an existing service in your customer account. The compliance service is also automatically added when you sign up for our registered agent service or hire us to form your Alabama LLC or Alabama Corporation. The information listed below must be provided when filing the Alabama Annual Report (S&C Companies Only): This document contains official instructions for Form 20C, Corporate Income Tax Return – a form approved and collected by the Alabama Department of Revenue. An up-to-date completed Form 20C can be downloaded via this link. To complete the Alabama Trade Privilege Tax Return, you must provide the following information: Yes, the State of Alabama requires new businesses to file an initial Business Privilege Tax Return within 2.5 months of incorporation. However, companies do not need to submit an initial annual report. Businesses use the same tax rate and calculation process used for the annual tax return for business privileges. The minimum tax is $100 for all corporations and limited liability companies. Form 20C is an Alabama corporate income tax form. Like Federal Form 1040, the states each provide a basic tax return form on which most high-level income and tax calculations are performed. While some taxpayers may complete their entire tax return on this single form with simple tax returns, in most cases, various other additional calendars and forms must be completed, depending on the individual taxpayer`s situation, in order to create a complete tax return package. TaxFormFinder has 47 additional Alabama income tax forms you might need, as well as all federal income tax forms. These related forms may also be required with the Alabama 20C form.

The IRS and most states require businesses to file a tax return, with the exact reporting requirements depending on the type of business. Sole proprietorships or non-considered corporations such as LLCs are filed on Schedule C (or the state equivalent) of the owner`s personal income tax return, flow-through corporations such as S corporations or partnerships are generally required to file an information return that conforms to IRS Form 1120S or Form 1065, and open-ended corporations must file the equivalent of federal Form 1120 (and as opposed to flow-through corporations are often subject to corporate tax). Additional forms are available for a variety of specific businesses and transactions, including trustees, nonprofits, and companies involved in other specific types of businesses. We updated the last Alabama corporate income tax return in January 2022, so this is the latest version of Form 20C that has been fully updated for fiscal year 2021. You can download or print current or past PDF Form 20C directly from TaxFormFinder. You can print other Alabama tax forms here. We believe that everyone has the right to keep their information private. That`s why data protection is our guiding principle when we create every service and product. Since a large majority of businesses file their first Alabama trade privilege tax return immediately after they are created, these returns are not included in our Alabama Annual Reporting Service. However, we will send you a reminder to file your first return if Northwest has established your business or is acting as a registered representative in Alabama.

Alabama typically publishes forms for the current tax year between January and April. We last updated the Department of Revenue`s Alabama Form 20C in January 2022. For $100 plus the government-imposed filing fee, we`ll send you the completed report so you can add your tax information and signature and then send it on your behalf. For most domestic businesses, this will be a minimum of $210. Download your copy of the instructions by clicking on the link below, or browse hundreds of other forms in our library of forms published by the Alabama Department of Revenue. We have a total of ten previous annual versions of Form 20C in taxFormFinder`s archives, including for the previous tax year. Download last year`s versions of this tax form in PDF format here: Here are a number of instructions on how to accurately complete and file your Alabama Business Privilege tax return. It looks like you don`t have a PDF plugin for this browser.

Please use the link below to download 2021-alabama-form-20c.pdf and you can print it directly from your computer. Under state law, Alabama corporations, limited liability partnerships, limited partnerships, and limited partnerships are required to file an Alabama business privilege tax return annually. These returns are filed with the Alabama Department of Revenue, Business Privilege Tax Section. Not-for-profit organizations with tax-exempt status are not required to file a tax return to obtain business privileges. Below are easy-to-follow instructions on how to file the Alabama Business Privilege Tax yourself. We also include due dates, registration fees, and answers to frequently asked questions. Do you need to file in another state? Check out our Guide to the Annual Report by State. Your Alabama Trade Privilege tax return will be processed within 8 to 12 weeks.

Unfortunately, you can`t pay for expedited service. C Corporations whose fiscal year ends June 30 – Late Fees: Alabama charges TWO different penalties. If you do not file your tax return on time, you will be charged 10% of your total taxes due OR $50, whichever is greater. If you do not PAY your taxes on time, the state will charge you 1% of the total taxes due EACH MONTH you default. The penalty fee for late payment of the business tax does not exceed 25% of the total amount due. So let`s say your total net worth in Alabama is $1,000,000 and $250,000 of that million comes from sales, payroll, and real estate in Alabama. If you look at the table above, your tax rate would be 0.00125. Alabama Business Privilege Tax Returns must be submitted by mail. To download and print your tax return, you must visit the Alabama Department of Revenue website. Make an ACH direct debit payment through your My Alabama Taxes (MAT) account.

You can create an account by clicking on “Register here”. Alabama Department of Revenue 50 North Ripley Street Montgomery, AL 36104 T: (334) 242-9600 At Northwest Registered Agent, we are committed to protecting our customers` privacy.