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Corporations that, at any time during the tax year, had assets in or operated a business in a foreign country or a U.S. possession may have to file Schedule N (Form 1120), Foreign Operations of U.S. Corporations.

Some small corporate taxpayers reported CAMT for tax year 2023 when they may not be subject to the tax. CAMT applies to corporations based on their AFSI. Only applicable corporations pay CAMT.

Form 1120-FSC is used to report the income, deductions, gains, losses, credits and tax liability of a foreign sales corporation. Corporations electing to be treated as a Foreign Sales Corporation (FSC) or small FSC file this form to report their income, deductions, gains, losses, credits and income tax liability.

Table 15: Corporation Returns With Net Income, Form 1120S Corporation Complete Report

Table 11: Corporation Returns With Net Income, Form 1120-F

International Tax Statistics U.S. Possessions Corporations

Calculate, pay or remove the underpayment of estimated tax by corporations penalty when you don’t pay estimated tax accurately or on time.

Nonprofit status may make an organization eligible for certain benefits, such as state sales, property, and income tax exemptions; however, this corporate status does not automatically grant exemption from federal income tax. To be tax exempt, most organizations must apply for recognition of exemption from the Internal Revenue Service to obtain a ruling or determination letter recognizing tax exemption.

Form 1120-POL – Final Return (527 organizations).

Overview of information reported on Form 1120-POL.