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Form Instructions 1120-S for Akron Ohio: What You Should Know

PDF — Cleveland Department of Taxation Instructions for Filing Original and Amended: • Individual Income Tax (IT 1040). • School District Income Tax (SD 100) his Department of. Taxation. Additional Information What tax credits do I receive? You receive 10% of the taxable income for qualifying children up to age 20. Additional Tax Information Additional Information: Taxation of S Corporation Income. How do I file my own tax return from my S Corp account? For your own tax return, if there are no items on your SS-4 form that relate to your business, you may file Form 1120-S. If there are items and/or activities that are not in your SS-4 form that relate to your business, you may file Form 1120-S. Do I have to pay additional penalties if my company is an S corporations? Yes, S Corporations are subject to the 2.9% Additional Medicare tax for wage expense. More Information For more information on your S Corporation, visit  Other S Corporation Information: The information on this website is provided as general information only and should not be relied on in making an important investment or financial decision. It is for general information purposes only and is not a recommendation, solicitation or offer to buy or sell any security or investment. Please read the prospectus or other offering documents thoroughly before investing. The information provided on our website is not complete and does not take into account your needs, financial situation or investment objectives. Before investing, you may want to contact a qualified investment professional with respect to your particular situation. Information, data and analysis in this press release represent those of the sponsor and/or its affiliates, and should not be construed as a recommendation, solicitation or offer to buy or sell any security or investment, or as an indication or recommendation to buy or sell any security or investment, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

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