First-Year Startup Tax Checklist

First-year tax checklist

• Get a federal EINRight after formation

  Apply free on IRS.gov, immediately after formation. You need it to open a bank account, run payroll, and file.

• Open a dedicated business bank accountBefore first transaction

  Separating company and personal money protects liability limits and makes bookkeeping (and our job) far cleaner.

• File federal income tax return — Form 1120April 15, 2026 (calendar-year)

  C-corps file Form 1120 for the prior calendar year. A 6-month extension (Form 7004) moves the filing date, not the payment date.

• Beneficial Ownership (BOI / CTA) reportNo filing required (domestic)

  EXEMPT for you. Under FinCEN's March 2025 interim final rule, domestic US companies no longer file a BOI report. Only foreign entities registering to do business in the US remain in scope.

• Pay quarterly estimated taxesQuarterly

  C-corps owing $500+ pay corporate estimates (Apr/Jun/Sep/Dec). Pass-through owners pay personal estimates on their share of profit (Apr 15 / Jun 15 / Sep 15 / Jan 15).

• Set up payroll if you pay wagesBefore first paycheck

  If owners or employees draw a salary, register for payroll tax accounts and file employment returns (941/940). S-corp owner-employees must take reasonable W-2 compensation.

• Capture startup costs & the R&D creditAt first return

  Deduct up to $5,000 of startup costs in year one (the rest amortizes). If you have US R&D payroll, a qualified small business can apply the R&D credit against payroll tax — see our R&D credit guide.

• File your state annual report & franchise taxVaries by state

  Every state of formation or registration has its own report and (often) a franchise/annual tax — Delaware C-corps owe franchise tax by March 1. Use our state deadline lookup.

A starting checklist for the most common cases as of the 2026 filing season — not exhaustive and not tax advice. Deadlines that fall on a weekend or holiday roll to the next business day. Confirm your specific obligations with a CPA.