Corporate Taxes in the U.S. – What Every Business Owner Needs to Know 

Introduction

Corporate taxes in the United States can be complex, especially for small business owners and entrepreneurs who are new to the system. Understanding the basics will help you stay compliant, avoid penalties, and make the most of possible deductions.

At Priority Taxes & Business Solutions, we help businesses across the U.S. manage their corporate taxes with professionalism, honesty, and support.

Who Must File Corporate Taxes?

• C Corporations → taxed separately from their owners.

• S Corporations → income passes through to shareholders.

• LLCs (Limited Liability Companies) → may be taxed as sole proprietorships, partnerships, or corporations depending on elections.

• Partnerships → file informational returns and partners pay personal taxes.
  
  

Key Corporate Tax Deadlines in 2025

• March 15 → S Corporations and Partnerships.

• April 15 → C Corporations and individual owners.

• Extensions → available, but penalties apply for late filings without request.
  
  

Common Deductions for Businesses

• Office expenses and supplies.

• Business travel and meals (with limits).

• Salaries and employee benefits.

• Professional fees (lawyers, accountants).

• Depreciation of assets and equipment.
  
  

Mistakes to Avoid

• Mixing personal and business expenses.

• Forgetting quarterly estimated tax payments.

• Filing the wrong tax form (1120, 1120-S, 1065).

• Not keeping organized accounting records.
  
  

Conclusion

Corporate taxes don’t have to be overwhelming. With the right guidance, your business can stay compliant and even save money.

👉 Need help with your corporate taxes? Contact Priority Taxes & Business Solutions today for expert support.