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RI-1120S 2006 S Rhode Island Business Corporation Tax Return Subchapter S or Limited Liability Companies Calendar year 2006 Fiscal year beginning 2006 and Ending Due on or before the fifteenth day

How to fill out ri 1120s form

How to fill out Form RI-1120S:

1. Begin by providing the basic identifying information on the form, such as the company's name, address, employer identification number (EIN), and the date the tax year ends.
2. Complete Part I of the form, which requires you to indicate the type of return and any applicable checkboxes that apply to your company. This section will also ask for details regarding any name or address changes, as well as the company's principal business activity.
3. Move on to Part II, where you will disclose information about the company's shareholders and their respective ownership percentages. You will need to provide the name, address, and identification number of each shareholder, including individuals and other corporations. Indicate the percentage of stock owned by each shareholder.
4. In Part III, provide information about the company's officers, directors, and the person responsible for the tax return. Include their names, titles, and addresses.
5. Proceed to Part IV, which is dedicated to Schedule A. This section requires you to report the Rhode Island adjustments to federal taxable income. Provide the necessary information and supporting documentation for each adjustment category.
6. Complete Schedule N, which is Part V of the form. This section is used to report Rhode Island tax credits. Fill out the required information for each tax credit claimed, ensuring that you qualify for each credit.
7. If any federal tax credits are being carried over to Rhode Island, complete Schedule K in Part VI. Include the details of the federal tax credits being carried over.
8. Move on to Part VII, which pertains to Rhode Island Income Tax Withheld. Here, you will need to provide details of any withholding taxes paid throughout the tax year, including the amounts.
9. Complete Part VIII by entering the company's payroll and sales figures for the tax year. You will need to provide the total wages, salaries, and tips paid to employees, as well as the company's gross receipts and sales.
10. Finally, review the completed form, ensuring all information is accurate and that you have attached any required schedules and documentation.
11. Sign and date the form, and provide your name and title as the person responsible for the tax return.

Who needs Form RI-1120S?

Form RI-1120S is required for corporations that are registered and subject to Rhode Island state taxes. Specifically, it is used by S corporations, which are corporations that elect to pass corporate income, deductions, and credits through to their shareholders for federal income tax purposes. S corporations with Rhode Island state tax obligations must file Form RI-1120S to report their income and related information to the state. It is important for S corporations in Rhode Island to determine if they meet the filing requirements for this form to ensure compliance with state tax laws.

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What is ri 1120s form?

The ri 1120s form is used by S corporations to report their income, gains, losses, deductions, credits, and to calculate their tax liability.

Who is required to file ri 1120s form?

S corporations are required to file ri 1120s form to report their income to the IRS.

How to fill out ri 1120s form?

To fill out ri 1120s form, S corporations need to provide information about their income, deductions, credits, and tax liability. This information is used to calculate the amount of tax owed by the corporation.

What is the purpose of ri 1120s form?

The purpose of ri 1120s form is to report the income, gains, losses, deductions, and credits of an S corporation to the IRS.

What information must be reported on ri 1120s form?

The ri 1120s form requires S corporations to report their income, deductions, credits, and tax liability. Additionally, they must provide information about shareholders and distributions.