Tax Return Due Dates for Business Types - Sole Proprietorships, LLC's, Partnerships, Corporations, S-Corporations
When is my business tax due? It depends on the type of legal entity of your business. If the tax return due date falls on a weekend, the due date is moved to the first following work day; for example, if the 15th of April is on Sunday, the due date is April 16. Here is a list of the types of business entities and their tax return due dates for 2013 tax returns:
A sole proprietorship business is an extension of the person running the business, so its year end is December 31, and the tax return due date is the same as the individual's - April 15 of the following year. The due date for 2013 Schedule C is April 15, 2014, the same as the individual tax return date.
A single member LLC is taxed like a sole proprietorship, using Schedule C to calculate net income, so the tax returns are due and taxes are payable on April 15, for the prior year. The due date for 2013 Schedule C forms, along with the owner's personal tax return, is April 15, 2014.
A partnership return is filed as an information return on Form 1065, and tax is owed on the individual partner tax return. Form 1065 is due on 15th day of the 4th month after the end of the partnership's tax year. For a December 31 year end, the due date is April 15. For 2013 tax return filing, the partnership return due date is April 15, 2014. April 15 is also the due date for Individual partners to file Schedule K-1 showing their individual share of the partnership income or loss on April 15.
Multiple-member Limited Liability Company (LLC)
Multiple-member LLCs are taxed as partnerships, so the partnership filing and payment regulations above apply.
A corporation that has not filed a Subchapter S election may choose any convenient date as their year end (usually a quarter end date). Corporation tax returns are due and taxes are payable on the 15th day of the third month after the end of the company's fiscal (financial) year. So, a corporation with a year-end date of December 31 must file and pay taxes by March 15 (March 17, 2014, for December 31, 2013, year-end corporations.) A corporation with a year-end date of September 30 must file and pay taxes by December 15.
Subchapter S Corporations
Corporations which have filed a subchapter S election are taxed on the individual income tax returns of the owners. So an S corporation must usually take a calendar year end date (December 31) unless the corporation can establish a reasonable business purpose for a different date. The filing date and tax return due date is the same as for other corporations (March 15 for a December 31 year end.) For 2013 Subchapter S returns, the tax return due date is March 17, 2014.