Corporate Tax for C corporations.
For C corporations that want returns prepared from clean books and planning that looks at the corporation and its owners together.
C corporations are taxed separately from their owners, which brings its own planning questions about compensation, dividends, and retained earnings. TreeStar prepares Form 1120 and related state returns from reconciled books, with careful attention to balance sheet schedules, fixed assets, and inventory. Many cannabis operators are organized as C corporations, and IRC §280E limits deductions for businesses trafficking in Schedule I or II controlled substances. For those clients, cost of goods sold and inventory accounting deserve particular care, and we treat them that way.
How we help
Federal C corporation return and related state filings.
Balance sheet and equity reconciliations that tie the return to the books.
Cost of goods sold documented on Form 1125-A and reviewed against inventory records.
Corporate estimated payments reviewed as results develop through the year.
Compensation and dividend decisions discussed with both corporate and personal tax in view.
Every engagement starts with a written scope, so you know exactly what we will handle for you before any work begins.
How it works
- 01 Close
We confirm year-end entries and reconcile key accounts.
- 02 Support
We assemble schedules for inventory, fixed assets, and equity.
- 03 Prepare
We prepare the federal and state corporate returns.
- 04 Plan
We review results and set estimates for the year ahead.
What you can expect
A corporate return that reconciles to the books
Well-supported inventory and cost schedules
A plan for estimates and owner pay
Common questions
How does §280E affect a C corporation?
IRC §280E limits deductions for businesses trafficking in Schedule I or II controlled substances, regardless of entity type. Cost of goods sold accounting is often central to how the rule affects the return.
Should we stay a C corporation?
It depends on your goals, owners, and plans for profits. Our entity tax strategy work can compare the options with your numbers.