What Form 1120 does
Form 1120 reports a C-Corporation’s income, gains, losses, deductions, and credits, and calculates the corporation’s federal income tax liability directly. Unlike a partnership or S-Corp, a C-Corp pays tax at the entity level.

Who needs to file it
Any business formally structured and taxed as a C-Corporation must file Form 1120 annually, regardless of whether it turned a profit.

Double taxation, explained simply
C-Corp profits are taxed once at the corporate level (via Form 1120), and again at the individual level if profits are distributed to shareholders as dividends. This is the tradeoff businesses weigh when choosing C-Corp status over an S-Corp or LLC.

Deadline
April 15 for calendar-year corporations.

How Luminary can help
Corporate returns involve more complexity than most owners expect, including depreciation schedules, retained earnings, and reconciling book income to taxable income. We handle the full filing and help you plan distributions in a way that’s tax-aware, not reactive. More information can be found on our services page.