As a corporate tax professional, you know the complexities of complying with business taxation requirements. Your company may have to file corporate tax returns in multiple states and local jurisdictions, as well as with federal — and perhaps international — tax authorities.

The level of intricacy in corporate tax return filing requirements, coupled with frequent changes in tax laws, makes the job of accurately filing corporate taxes time-consuming and complicated. Read on for a guide to preparing and filing corporate income tax returns.

Does every corporation file income tax returns?

Every company in the U.S. that generates net income during a tax year is required to file a corporate income tax return. Whether these companies must pay income tax or not is a different question. For example, unlike a corporation, a limited liability company (LLC) is not a separate tax entity, so it does not pay federal income taxes (although some states do require LLCs to pay taxes).

To dig deeper, visit the original article on the Thomson Reuters blog.