Which Business Tax Return Do You Need to File?
The type of tax return your business files depends on its legal structure. Here's a breakdown of the most common business tax forms and who needs to file them.
Not all businesses file the same tax return. The form you use depends on how your business is legally structured. Here's a breakdown of the most common business tax forms.
Sole Proprietorship
Form: Schedule C (attached to your personal Form 1040)
If you're a sole proprietor — running a business in your own name without a separate legal entity — you report business income and expenses on Schedule C. The net profit flows to your personal return and is subject to self-employment tax.
Single-Member LLC
Form: Schedule C (by default) or Form 1120-S (if S-Corp election made)
A single-member LLC is a "disregarded entity" by default — it files the same as a sole proprietor. If you've elected S-Corp status, you file Form 1120-S instead.
Multi-Member LLC / Partnership
Form: Form 1065 (Partnership Return)
Multi-member LLCs are treated as partnerships by default. The partnership files Form 1065, and each partner receives a Schedule K-1 showing their share of income, deductions, and credits to report on their personal return.
S-Corporation
Form: Form 1120-S
S-Corps file Form 1120-S, which reports the corporation's income, deductions, and credits. Each shareholder receives a K-1. The corporation itself doesn't pay federal income tax — income passes through to shareholders.
C-Corporation
Form: Form 1120
C-Corps file Form 1120 and pay corporate income tax at the entity level (currently 21%). Dividends paid to shareholders are taxed again on personal returns — the "double taxation" issue that makes C-Corps less common for small businesses.
Nonprofit (501(c)(3))
Form: Form 990
Tax-exempt organizations file Form 990 to report their finances and activities to the IRS.
Due Dates
| Entity Type | Due Date | Extension |
|---|---|---|
| S-Corp / Partnership | March 15 | September 15 |
| C-Corp | April 15 | October 15 |
| Sole Prop / Single-Member LLC | April 15 | October 15 |
For more on how each entity type is taxed, see our LLC taxes explained guide.
Related Resources
- How LLCs Are Taxed: A Plain-English Guide
- S-Corp vs. LLC: Which Is Better for Your Taxes?
- Tax Deductions for Self-Employed Texans: The Complete List
- Why Tax Planning Should Happen Year-Round
- Our Tax Preparation Services
- Contact Us
Not sure which return you need to file — or need help filing it? The Gap ProAdvisors prepares business tax returns for all entity types. Contact us or pay for your tax prep online.
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About the author
The Gap ProAdvisorsOwner & Lead Advisor — The Gap ProAdvisors
Angela is a Certified Bookkeeper, QuickBooks ProAdvisor, and IRS Registered Tax Return Preparer (PTIN) with over a decade of experience helping small businesses across Texas get their books right and keep more of what they earn. She founded The Gap ProAdvisors to make professional financial services accessible to every small business owner — no matter where they are.
