Taxes

[Unregistered]

I am doing first crop tax return. This is a "C" corp and fed tax paid by c corp, along with state tax, are deductible, right?

Thanks!

[OldJack]

State corporation income tax is deductible on the 1120 tax return but the federal corporation income tax is not. The federal corporation tax may be deductible on your state corp income tax return depending upon your state laws.

[Unregistered]

State corporation income tax is deductible on the 1120 tax return but the federal corporation income tax is not. The federal corporation tax may be deductible on your state corp income tax return depending upon your state laws.

Thank you.