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Form Instructions 1120-S AR: What You Should Know
Missouri resident that owns or controls more than 5% of the S-Corporation. The S-Corporation must pay Missouri income tax for the years from 2023 to 2028, unless exempt because of an Oklahoma or Kansas shareholder's exemption. There is separate income tax for the S-Corporation, a Kansas or Oklahoma shareholder, or a state-owned enterprise; or a corporation that has a special designation. Form MO-1120S is not required to be filed if this is not the case. MO-1120S is available online at AR-0113 — Subchapter S Corporation Income Tax Instructions, 01/09/2019. Sub-chapter S Corporation Income Tax Instructions, 01/09/2019. AR-0122 — Special Notice of Proposed Tax Rulings If the S-Corporation is taxed in Alabama, Form MO-1120S (Application to be a Small Business Corporation) must be completed and filed with the Department of Revenue of the State. State of Montana In order to be exempt from Montana tax, the S-Corporation must file one of the following form: In order to be taxed in Montana, the S-Corporation must: 1) be organized primarily as a corporation or partnership of two or more persons; 2) have at least two (2) shareholders that are Montana resident (which shareholders must also reside in Montana); 3) have a principal place of business in Montana that is directly related to the conduct of the businesses of each shareholder; 4) pay annual state personal income taxes of one third of a specified percentage of the business profits of the corporation or partnership; 5) pay federal corporate income tax on at least twenty percent (20%) of the corporation's or partnership's gross receipts for the prior tax year; 6) pay the state's gross receipts taxes imposed by Montana on at least ten percent (10%) of the gross sales of the corporation or partnership; 7) pay a quarterly state corporate income tax on a majority of the corporation's or partnership's gross receipts; or 8) have at least five (5) shareholders that are Montana resident, unless such shareholder owns twenty percent (20%) or more of the corporation or partnerships (see below). If the S-Corporation is taxed in Wyoming or Utah, the Form 1120S can be completed and submitted to the Wyoming Corp, or Utah Corp, respectively. Form 1120S is not required to be filed if this is not the case.
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