Instructions For Arizona Form 120s - Arizona S Corporation Income Tax Return

Arizona Form

2011 Arizona S Corporation Income Tax Return

120S

private delivery service for information regarding how to obtain

Obtain additional information or assistance by calling one of

written proof of mailing.

the numbers listed below:

Filing Amended Returns

Phoenix

(602) 255-3381

From area codes 520 and 928, toll-free

(800) 352-4090

Any taxpayer who files an amended return with the Internal

Hearing impaired TDD user

Revenue Service must file an Arizona amended return within

Phoenix

(602) 542-4021

90 days of its final determination by the IRS.

From area codes 520 and 928, toll-free

(800) 397-0256

The taxpayer must report changes or corrections of the taxpayer's

Obtain tax rulings, tax procedures, tax forms and instructions,

income by the Internal Revenue Service or as the result of

and other tax information by accessing the department's

renegotiation of a contract or subcontract with the United

Internet home page at

States to the department. The taxpayer must, within 90 days

after the final determination of the change or correction, either:

General Instructions

 File a copy of the final determination with the department,

concede the accuracy of the determination or state any

Who Must Use Form 120S

errors, and request the department to recompute the tax

Corporations taxed as S corporations under Subchapter S of

owed to Arizona; or

the Internal Revenue Code must file Form 120S. Qualified

 File an amended return as required by the department.

subchapter S subsidiaries are not treated as entities separate

The taxpayer must include additional schedules that provide

from the parent corporation, and would be included on a

sufficient information for the department to recompute the

single Form 120S filed by the parent S corporation.

taxpayer’s net income subject to Arizona corporate income tax

Entity Classification Under the Federal "Check-the-

based on the Revenue Agent Report changes. The department

Box Rules"

may require the taxpayer to file an amended return if the

The federal tax classification of an entity under the federal

department does not have the necessary information to

"check-the-box rules" determines the entity's classification

recompute the tax owed to Arizona.

for Arizona tax purposes.

NOTE: File amended returns for prior taxable years on the

Limited Liability Companies

respective Form 120S for those taxable years. Use the 2011

Only a limited liability company that makes a valid federal

Form 120S to amend only the taxable year 2011.

election to be taxed as an S corporation must file Form 120S. A

Do not file an amended return until the original return has

single member limited liability company that is disregarded as

been processed.

an entity is treated as a branch or division of the owner, and is

Payment of Tax

included in the tax return of its owner. Refer to Arizona

The entire amount of any tax for which the S corporation itself

Corporate Tax Ruling CTR 97-2 for further information.

is liable is due by the original due date of the return.

Taxable Year Covered by Return

Payments can be made via check, electronic check, money

The S corporation must have the same taxable year for Arizona

order, or credit card. Visit to register and

purposes as it has for federal purposes. Indicate the period

make payments via the internet.

covered by the taxable year on page 1 of the return and

Estimated Tax Payments

whether the taxable year is a calendar year or a fiscal year.

S corporations that expect an Arizona corporate income tax

Filing Original Returns

liability for the taxable year of $1,000 or more must make

Returns are due by the 15th day of the third month following the

Arizona estimated tax payments. Use Form 120ES, Corporation

close of the taxable year. If the taxpayer has a valid federal or

Estimated Tax Payment.

Arizona extension, file the return by the extended due date. If

The Arizona estimated tax payment calculation should include

the taxpayer files under extension, the taxpayer must check the

any tax from the recapture of tax credits. This requirement

extension box (82F) on page 1 of the return. Send the return to

applies whether or not the S corporation itself is subject to tax

the Arizona Department of Revenue, PO Box 29079, Phoenix

at the corporate level.

AZ 85038-9079. One or more of the S corporation’s officers

An S corporation that fails to make the required estimated tax

(president, treasurer, or any other principal officer) must sign the

payments is subject to a penalty on any estimated tax payment

return. The department requests that taxpayers attach a copy of

which is late or underpaid. For exceptions to the estimated tax

the completed federal Form 1120-S to the Arizona return. ARS

requirements, see the instructions for Form 220, Underpayment

§ 42-1112 prescribes the schedules required to be included.

of Estimated Tax by Corporations.

The department normally determines the timeliness of a return

The Arizona required annual payment of corporate estimated

by the postmark or other official mark of the U.S. Postal

tax for an S corporation is the smaller of:

Service stamped on the envelope in which the return is mailed.

Refer to Arizona General Tax Ruling GTR 93-1 for further

(a) Ninety percent of the taxpayer's Arizona tax liability for the

information. The department will also accept proof of mailing

current taxable year; OR

from a private delivery service included in the Internal Revenue

(b) An amount equal to the sum of:

Service list of designated private delivery services. Contact the

Instructions For Arizona Form 120s - Arizona S Corporation Income Tax Return - 2011

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