NY Form 1120-FSC 2018-2025

NY Form 1120-FSC: What You Should Know

PDF A corporation must file a tax return to New York State each year. The tax return is needed to report income, deductions and taxes to the IRS. For information about filing your U.S. federal income tax return — click here for information about filing your U.S. federal income tax return — the IRS. For more information about filing your New York State income tax return — click here for information about filing your New York State income tax return — the state of New York. (New York does not charge an income tax.) Form 1120 — FSC Tax Return, Tax Year 2017 A Form 1120-FSC requires the shareholder to file electronically. A Form 1120-FSC is used to report the income, deductions, gains, losses, credits, tax liability and/or royalty paid by a corporation (corporation) to a foreign sales corporation (FSC) which is incorporated in either New York State or the United States of America; or which makes the initial contribution for the capital stock of its new-incorporated foreign sales corporation to an FSC other than a corporation operating in New York State. A form 1120-FSC is filed in two copies, with each copy containing the required information. A Form 1120-FSC is used to give the IRS the proper information to issue the federal tax return of a foreign corporation. It also provides support to assist any shareholders of a foreign corporation that elect to file a New York State tax return — see below. Form 1120-FSC — Form of New York State Corporation The first page contains a certification that the form is under the control of the corporation. A copy of the form 1120-FSC is given to all shareholders by the corporation and a certification from the president of the corporation to the effect that the tax return is under the control of the corporation as described above when the corporation's corporate name appears on the last page of each Schedule C, section 1, or other document that is filed with the tax return. If the Form 1120-FSC must be submitted to an FSC, it must be completed and sent to the FSC's principal address as stated on Form 1120. If there is no corporate principal address, the Form 1120-FSC must be completed and sent to an FSC's address specified on Form 1120-C (1120-D is a form with a different certification that the FSC must receive).

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