(i) a corporation which is a qualified subchapter S subsidiary shall not be treated as a separate corporation, and (3) Treatment of certain wholly owned subsidiaries (A) In generalĮxcept as provided in regulations prescribed by the Secretary, for purposes of this title. (B) an insurance company subject to tax under subchapter L, or (A) a financial institution which uses the reserve method of accounting for bad debts described in section 585, (2) Ineligible corporation definedįor purposes of paragraph (1), the term "ineligible corporation" means any corporation which is. (C) have a nonresident alien as a shareholder, and (B) have as a shareholder a person (other than an estate, a trust described in subsection (c)(2), or an organization described in subsection (c)(6)) who is not an individual, (b) Small business corporation (1) In generalįor purposes of this subchapter, the term "small business corporation" means a domestic corporation which is not an ineligible corporation and which does not. (2) C corporationįor purposes of this title, the term "C corporation" means, with respect to any taxable year, a corporation which is not an S corporation for such year. S corporation defined (a) S corporation defined (1) In generalįor purposes of this title, the term "S corporation" means, with respect to any taxable year, a small business corporation for which an election under section 1362(a) is in effect for such year. If you have questions regarding your federal tax return, please contact the Internal Revenue Service (IRS) at (800)829-1040 or visit their website at. South Dakota does not impose a corporate income tax. This report will be updated on a weekly basis. Names are removed within 10 days of payment in full. A lien has been filed against all taxpayers listed. The following report is a list of Business Tax delinquent taxpayers. Returns filed on a paper form must be filed and paid by the 20th of each month following the reporting period, regardless of the amount due. Returns must be filed even if no amounts are due. Penalties and interest apply to late returns or payments. When a filing or payment due date falls on a Saturday, Sunday, or legal holiday, the filing or payment is due the next business day. Returns filed electronically need to be filed by the 20th of each month following the reporting period regardless of amount due. Use our handy online services and Forms/Resource pages for fast, efficient filing of DOR tax forms. Once approved we will automatically forward it to the Secretary of State’s office on your behalf. Please complete the following form and submit it to our office for review. Business Tax Information Tax Clearance Certificate How Do I File? Business Tax Filing Dates Top 100 Delinquent Report Corporate Income Tax Tax Factsįind a variety of tools and services to help you file, pay, and navigate South Dakota tax laws and regulations.īusinesses who would like to apply for reinstatement with the Secretary of State’s office must first receive a tax clearance certificate from the Department of Revenue.