INSTRUCTIONS: IOWA INCOME TAX RETURN FOR S CORPORATIONS (Form IA 1120S)
S corporations doing business in Iowa file their state income tax using a form IA 1120S. This document is obtained from the website of the government of the state of Iowa.
Iowa Income Tax Return For S Corporations IA 1120S Step 1: Give the beginning and ending dates of your fiscal year if not filing on a calendar year basis.
Iowa Income Tax Return For S Corporations IA 1120S Step 2: Indicate with a check mark if you are filing a return documenting a name or address change, a short period return or an amended return.
Iowa Income Tax Return For S Corporations IA 1120S Step 3: In Part I, give your corporation's name and address. Provide the name and telephone number of a contact person.
Iowa Income Tax Return For S Corporations IA 1120S Step 4: Provide your federal employer identification number, business code, county number and number of shareholders.
Iowa Income Tax Return For S Corporations IA 1120S Step 5: If you are filing a first return, indicate with a check mark if you are documenting a new or successor business, or one which is entering Iowa.
Iowa Income Tax Return For S Corporations IA 1120S Step 6: If you are filing a final return, indicate with a check mark whether your business has been reorganized, withdrawn, merged, undergone bankruptcy, been dissolved or other. If the latter, explain.
Iowa Income Tax Return For S Corporations IA 1120S Step 7: In Part II, provide all information requested about your corporation activities.
Iowa Income Tax Return For S Corporations IA 1120S Step 8: In Part III, document your income as instructed and follow the directions to calculate your income tax owed.
Iowa Income Tax Return For S Corporations IA 1120S Step 9: Calculate your business activity ratio in Part IV if operating as a multistate corporation.
Iowa Income Tax Return For S Corporations IA 1120S Step 10: In Part V, enter your corporation name, net income or loss and federal employer identification number from your previous Iowa return.
Iowa Income Tax Return For S Corporations IA 1120S Step 11: An officer of the firm should sign and date the bottom of the page and provide their title.
Iowa Income Tax Return For S Corporations IA 1120S Step 12: Document your shareholders on schedule K-1 on the second page.
