Form 1120-S ND 2024-2025

Form 1120-S ND: What You Should Know

The S corporation may make a tax return if: You meet the definition of an S corporation (no U.S. resident shareholders) The total tax on the income and expenses for the year exceeds 100% of your worldwide taxable income for the year The corporation is a trade or business in North Dakota Note: Your S corporation may elect a shorter election period than 10 years for taxes to apply to future years if it makes a timely qualified election (e.g., one filed for the current year). A tax return filed pursuant to the tax laws of North Dakota may only be amended, revoked, or reversed by court order, notice of hearing, or administrative order of the North Dakota Department of Revenue. If a shareholder changes or ceases to be a resident of North Dakota during the year, the corporation is no longer required to file a joint return and can elect or amend the return under North Dakota law with a timely filed amended return. A qualified election will take effect within 10 years after the return is filed. See chapter 6. A shareholder can terminate this election by filing a notice of withdrawal to the North Dakota Secretary of State with the required to be prescribed fee. A termination notice is available at the North Dakota Secretary of State office or online at A shareholder may file a joint return using a later election if the corporation has filed a termination notice. Note: A shareholder can also file a joint return by choosing a later election if the shareholder changes or ceases to be a resident of North Dakota after the shareholder has already filed a termination notice. If the shareholder files a joint return using a later election, the termination notice must be filed in accordance with North Dakota law (e.g., within 10 years after receipt of the shareholder's share of the corporation's income and/or loss) or the next election can't be made. See below. Filing Form 2553 in North Dakota requires a minimum income tax for tax periods  beginning with fiscal year 2025 through the first day of the next fiscal year. This will be September 1, 2020. A tax return filed for 2018, 2019, or 2025 must be filed by April 15, 2018. A return filed between April 15, 2018, and June 30, 2018, must be filed by June 30, 2018.

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