We just started, so there is almost no income and many expenses currently on the books.
The return is due March 15 for the previous year. Your S-corp doesn't pay taxes, it files a form 1120S informational return. The 1120S produces a form k-1 that states your share of the companies income and other items. You report that k-1 on Schedule E of your Form 1040 in April. You have to file the 1120S every year whether you made money or not. Definitely find a professional, the 1120S is not easy to do.
You need to speak with an accountant. Or at least hire a bookkeeper Unfortunately, it's another expense, but a needed one.
I am not an accountant and this is not "professional advice."
I do have an S-Corp, though.
You need a corporate accountant. A public accountant cannot do corporate taxes.
You pay by the March 15 deadline like everyone else. UNLESS you are earning more than a certain amount a year, which your account can advise you of--then you will likely pay quarterly remittance which is an estimate based on revenue and then adjusted at fiscal year-end. If you're earning under say $200K, don't worry about it: you're still on the standard tax plan.
Hello, my name is Humberto Valle, I'm an international strategist with over 10 years experience. My skillset has revolved around marketing and product market reach but I have vast experience with your topic, I believe I have also answered a similar questions to this one before.
In short - you must file as often as required per your state plus the federal. If you have to claim $0 revenue, net losses - do so. If anything it benefits you, as investor. Go talk to a cpa for further advice, also with s corps make sure to record minutes for any changes or efforts made on the companies behalf. Sometimes they are needed, sometimes not.
Good luck, and talk to a cpa directly.
I have an S-Corp and several other corps, but I'm not an accountant.
Definitely hire a qualified accountant, as the various state and federal dates and taxes can be confusing. You can also use a Registered Agent service that offer notifications and managed reports so that you don't miss dates. Companies like MyLLC.com (I am not endorsing this - just an example)