By the iQTAXX tax team, 6360 S Rainbow Blvd, Suite 101, Las Vegas. Updated October 29, 2026.
Quick answer iQTAXX prepares business tax returns in Las Vegas for S-corporations (Form 1120-S), partnerships and multi-member LLCs (Form 1065) and C-corporations (Form 1120); for calendar-year businesses, Forms 1120-S and 1065 are due March 15 and Form 1120 is due April 15, and Form 7004 extends the time to file, not the time to pay. Nevada has no state income tax on business profits, so the main filings are federal, plus the Nevada Modified Business Tax if you have payroll and the Commerce Tax only above $4,000,000 of Nevada gross revenue. Our fees depend on the forms your return needs. Call 702-871-7884 for a quote.
Call iQTAXX at 702.871.7884 to book (booking is by phone call only) · 6360 S Rainbow Blvd, Suite 101, Las Vegas, NV 89118 · Open year-round, not seasonal
Key facts (checked October 29, 2026)
- Form 1065 (partnerships and multi-member LLCs): due by the 15th day of the 3rd month after the tax year ends, which is March 15 for calendar-year partnerships (IRS, Instructions for Form 1065).
- Form 1120-S (S-corporations): also due by the 15th day of the 3rd month after the tax year ends, March 15 for a calendar year (IRS, Instructions for Form 1120-S).
- Form 1120 (C-corporations): generally due by the 15th day of the 4th month after the tax year ends, April 15 for a calendar year; a C-corp with a fiscal year ending June 30 files by the 15th day of the 3rd month (IRS, Instructions for Form 1120).
- Extensions (Form 7004): filed by the original due date, Form 7004 gives an automatic extension of time to file (6 months for these returns, so September 15 for a calendar-year 1065 or 1120-S and October 15 for a calendar-year 1120). "Form 7004 does not extend the time to pay any tax due" (IRS, Instructions for Form 7004).
- Late-filing penalty, partnerships and S-corps: for returns filed in 2026, the penalty is $255 for each month or part of a month the return is late (up to 12 months), multiplied by the number of partners or shareholders, unless the failure is due to reasonable cause (IRS, Instructions for Form 1065; Instructions for Form 1120-S).
- Late-filing penalty, C-corps: generally 5% of the unpaid tax for each month or part of a month the return is late, up to 25% (IRS, Instructions for Form 1120).
- Balance sheet (Schedule L): an S-corp with total receipts under $250,000 and total assets under $250,000 does not have to complete Schedules L and M-1. A partnership skips Schedules L, M-1 and M-2 only if it meets all four conditions on Form 1065, Schedule B, question 4, including total receipts under $250,000 and total assets under $1 million (Forms 1120-S and 1065, 2025 revisions).
- No Nevada income tax on individuals or business profits (Nevada Department of Taxation).
- Nevada Commerce Tax: applies only to a business whose Nevada gross revenue in a taxable year exceeds $4,000,000; the return is due 45 days after the June 30 fiscal year ends (August 14, 2026 for the 2025-2026 year) (NRS 363C.200; NV Department of Taxation, Commerce Tax).
- Nevada Modified Business Tax (MBT): a quarterly payroll tax; most general-business employers pay 1.17% on wages above $50,000 a quarter, and every employer must file a return even when no tax is due (NV Department of Taxation, MBT; NRS 363B).
Which business return do you file? Forms by entity
- Sole proprietor or single-member LLC (default): Federal return: No business return; Schedule C (or Schedule E for rentals) on the owner's Form 1040; Due date (calendar year): April 15 with the Form 1040; What owners receive: Not applicable; Nevada: State business license; MBT if you have employees
- Partnership or multi-member LLC (default): Federal return: Form 1065; Due date (calendar year): March 15; What owners receive: A Schedule K-1 for each partner or member; Nevada: Annual list, state business license; MBT with payroll; Commerce Tax over $4,000,000
- S-corporation (corporation or LLC that filed Form 2553): Federal return: Form 1120-S, plus payroll forms (Form 941, W-2) for owner salary; Due date (calendar year): March 15; What owners receive: A Schedule K-1 for each shareholder; Nevada: Annual list, state business license; MBT on payroll; Commerce Tax over $4,000,000
- C-corporation: Federal return: Form 1120 (the corporation pays its own federal income tax); Due date (calendar year): April 15; What owners receive: Form 1099-DIV if dividends are paid; Nevada: Annual list, state business license; MBT with payroll; Commerce Tax over $4,000,000
Sources: IRS, Business structures; IRS, Partnerships; IRS, S corporations. Not sure how your LLC is classified? See LLC formation in Las Vegas.
What goes into a business return
- The federal business return (Form 1120-S, 1065 or 1120)
- A Schedule K-1 for each partner or shareholder of a partnership or S-corp
- Depreciation schedules (Form 4562), including bonus depreciation and Section 179 when they apply
- Schedules L, M-1 and M-2 when the business does not meet the small-business exception
- A review of S-corp owner salary and distributions, and partner payments and capital accounts
Our fees depend on the forms your return needs. Call 702-871-7884 for a quote.
Getting your books ready
We prepare returns from your books. Please bring:
- Profit and loss statement and balance sheet for the year
- December bank and credit card statements
- Fixed asset purchases and sales, with dates and costs
- Payroll reports (Forms 941, W-2 and W-3)
- Loan statements
- Last year's business return and depreciation schedules
If your books need cleanup, we tell you before we start. See the full items to bring checklist.
Items we review on every business return
Results depend on your facts. We explain each item before you decide.
Married couples filing jointly who own a business
Many Las Vegas business owners are married, file jointly and want to save on taxes as a couple. How the business is set up changes which returns you file:
- Unincorporated business run by both spouses. Spouses who own and run a business together without an LLC or corporation may elect a qualified joint venture, so each spouse reports a share on a separate Schedule C and earns Social Security credit, instead of filing Form 1065 (IRS, Election for married couples unincorporated businesses).
- LLC owned only by the two of you. Nevada is a community property state. Under Rev. Proc. 2002-69, spouses who own an LLC solely as community property can treat it as a disregarded entity (one Schedule C on the joint return) or as a partnership (Form 1065 with K-1s).
- S-corp owned by a couple. The 1120-S still files by March 15 and each spouse who works in the business needs reasonable wages through payroll; both K-1s flow onto your joint Form 1040.
- Plan the joint return, not just the business return. Business income is added to any W-2 wages on the joint return, so quarterly estimates and withholding for both spouses matter. See tax planning in Las Vegas.
Business returns in trucking, rideshare and real estate
- Trucking. Owner-operators and small fleets often run as an LLC or S-corp. Their returns usually include depreciation on trucks and trailers, and highway vehicles with a taxable gross weight of 55,000 pounds or more also file Form 2290, heavy highway vehicle use tax (IRS, About Form 2290).
- Rideshare and delivery. Most drivers report on Schedule C, not a business return. If a driver's LLC elects S-corp status, it files Form 1120-S and runs payroll. See rideshare and gig driver taxes.
- Real estate. Rental properties held by a multi-member LLC are reported on Form 1065 with Form 8825, and each owner gets a K-1. Agents with an S-corp file Form 1120-S. See real estate investor taxes and realtor tax preparation.
Extensions give time to file, not time to pay
Form 7004 gives an automatic extension to file, not to pay. A C-corp must pay its tax by the original due date. S-corps and partnerships generally do not pay federal income tax at the entity level, but owners may need personal estimated payments. We file the extension when your books are not ready and help you estimate what to pay on time. See do you need to file a tax extension.
How a business return works at iQTAXX
- Call 702-871-7884 and tell us the entity type (LLC, S-corp, partnership or C-corp) and roughly your receipts and assets. We tell you which forms the return needs and quote your fee.
- Bring your books and the documents listed above.
- We prepare the return and the K-1s, and flag questions such as owner salary, vehicle use or a large equipment purchase.
- We review the return with you, then e-file it. Each owner's personal Form 1040 is prepared next so the K-1 numbers carry over correctly.
If you are switching preparers, bring your last two business returns and depreciation schedules so asset histories carry over.
Other filings to keep on your calendar
- January 31: Forms W-2 and 1099-NEC to workers and the IRS
- Quarterly: Form 941 payroll returns (IRS, About Form 941) and the Nevada Modified Business Tax, if you have employees
- Each year: Nevada state business license renewal and your annual list with the Nevada Secretary of State
- August 14, 2026: Nevada Commerce Tax return for the 2025-2026 year, only if Nevada gross revenue exceeded $4,000,000
Open year-round, not seasonal
Business owners need help after April too: extensions due in September and October, IRS letters, payroll questions, new entities and elections. iQTAXX is open year-round, not seasonal. Booking is by phone only: call 702-871-7884 (we do not take bookings by text or online). Fees depend on the forms the return needs; call 702-871-7884 for a quote (how our fees are determined).
Frequently asked questions
When are S-corp and partnership tax returns due?
For calendar-year businesses, Form 1120-S and Form 1065 are due March 15. Filing Form 7004 by that date gives an automatic 6-month extension to file, to September 15.
When is a C-corporation tax return due?
A calendar-year C-corporation files Form 1120 by April 15, the 15th day of the 4th month after the tax year ends. Form 7004 extends the filing deadline to October 15, but tax is still due by April 15.
What is the penalty for filing a partnership or S-corp return late?
For returns filed in 2026, the IRS penalty is $255 per month or part of a month, up to 12 months, multiplied by the number of partners or shareholders, unless the failure is due to reasonable cause.
Does Nevada have a corporate income tax?
No. Nevada has no state income tax on business profits. Employers may owe the Modified Business Tax on payroll, and the Commerce Tax applies only when Nevada gross revenue exceeds $4,000,000 in a year.
Who has to file the Nevada Commerce Tax?
A business whose Nevada gross revenue exceeds $4,000,000 in the fiscal year ending June 30 files a Commerce Tax return within 45 days, which was August 14, 2026 for the 2025-2026 year.
Does my business return need a balance sheet?
An S-corp with total receipts and total assets both under $250,000 does not have to complete Schedules L and M-1. A partnership skips Schedules L, M-1 and M-2 only if it meets all four conditions in Form 1065, Schedule B, question 4.
Can a married couple who own a business together file one return?
It depends on the setup. Spouses running an unincorporated business may elect a qualified joint venture and file two Schedule Cs on their joint return. In Nevada, spouses who own an LLC solely as community property may treat it as a disregarded entity or as a partnership.
How much does iQTAXX charge for a business tax return?
Our fees depend on the forms your return needs. Call 702-871-7884 for a quote.
Sources
Related iQTAXX pages
iQTAXX · 6360 S Rainbow Blvd, Suite 101, Las Vegas, NV 89118 · Serving Las Vegas year-round since 2008 · Call 702.871.7884 to book (booking is by phone; call for current hours) · Send us a question
iQTAXX is a tax preparation office, not a CPA firm or law firm, and does not give legal advice. This page is general information, not advice for your situation; iQTAXX makes no promise about any refund amount, savings or outcome. Government figures are from IRS.gov, the Nevada Legislature (NRS) and the Nevada Department of Taxation as of October 29, 2026. Fees are quoted by phone and confirmed before we start.
