-Federal Form 1120: US Corporation Income Tax Return
Domestic corporations file Form 1120 to record income, gains, losses, deductions, credits, and calculate income tax liability.
-California Form 100: Corporation Franchise or Income Tax Return
State form recording income, gains, losses, deductions, and credits for corporations.
-Federal Form 1120S
Domestic s-corporations and business entities classified as s-corporations file Form 1120S to report income, gains, losses, deductions, and credits for tax years covered by an election to be taxed an S corporation.
-California Form 100S: California S Corporation Franchise or Income Tax Return
State form recording income, gains, losses, deductions and credits for s-corporations.
The Franchise Tax Board requires every corporation that is incorporated, registered, or doing business in California to pay the $800 minimum franchise tax.
-S-Corps are subject to an annual 1.5% state tax.